States › Illinois › Highwood

Is Highwood, IL expensive to live in?

OKRent takes 22 cents of every $1 people earn here.
🏠 Rent per month (2026)$2,10120% higher than U.S. average
💵 Families earn per year (2026)$116,343about $9,695/month · 34% higher than U.S. average
🔑 House price$405,40022% higher than U.S. average

Rent is higher than in 73% of U.S. cities. A typical house costs about 3.5 years of household income. Commutes are long, about 31.1 minutes each way.

How much money do I need?

To rent here comfortably, you should earn about $84,040 a year. That is $40 an hour at a full-time job.

Is rent cheaper than other Illinois cities?

No. Rent here is more expensive than in most of Illinois. It is number 286 of 334 cities from cheapest to most expensive.

Highwood
$2,101
Posen
$1,517
Coal City
$1,242
Grandwood Park
$2,030
Pana
$756
Berkeley
$1,586
Lake Barrington
$3,500+

How much do households earn in Highwood?

Under $25k
16.4%
$25k–50k
10.4%
$50k–100k
30.9%
$100k–150k
24.1%
$150k+
17.6%

Share of households by yearly income. 41.7% of households earn $100,000 or more.

Rent by apartment size in Highwood

SizeHighwoodU.S. average
1 bedroom$1,673$1,324
2 bedrooms$1,844$1,509
3 bedrooms$2,538$1,698

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Highwood overall?

Everyday prices in Illinois overall are same as the U.S. average (index 100.0, U.S. = 100).

Housing
94
Goods (food, clothes…)
104
Utilities
85
Other services
100
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Highwood, so the Illinois figure is shown.

Taxes and bills in Highwood

🏛️ Property tax$9,161a year · 2.26% of home value · U.S. $3,119
⚡ Electric bill$112a month (typical) · U.S. $156

Life in Highwood

Commute to work31.1 minU.S.: 26.4 min
College degree39.1%U.S.: 35.7%
Own their home56%U.S.: 65.2%
Below poverty line16%U.S.: 12.5%
Unemployment6%U.S.: 5.2%

Is it cheaper to rent or buy in Highwood?

Renting is cheaper right now: about $712 a month less.

Renting
$2,101
Owning
$2,813

Owning assumes a typical $405,400 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $40,540 for the down payment.

Frequently asked questions

What is the average rent in Highwood, IL?

Renting in Highwood costs a median of about $2,101 a month in 2026, including utilities. The Illinois median is $1,517.

How much do I need to make to live in Highwood?

To keep rent under 30% of income, you need about $84,040 a year, or $40 an hour at a full-time job.

Is Highwood cheap or expensive?

Highwood is rated OK: rent takes 21.7% of the typical household income of $116,343. It ranks 286th cheapest of 334 Illinois cities we track.

How much are property taxes in Highwood?

The median homeowner in Highwood pays $9,161 a year in property taxes, about 2.26% of the median home value.

Is Highwood more expensive than the national average?

Overall prices in Illinois are same as the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Highwood?

The median home value in Highwood is $405,400, about 3.5 times the typical yearly household income.

5,301 people live in Highwood. Numbers are typical (middle) values.