States › Illinois › Lake Barrington

Is Lake Barrington, IL expensive to live in?

OKRent takes 27 cents of every $1 people earn here.
🏠 Rent per month (2026)$3,500+100% higher than U.S. average
💵 Families earn per year (2026)$153,102about $12,759/month · 76% higher than U.S. average
🔑 House price$475,70043% higher than U.S. average

Rent here is among the highest 10% in the country. Household incomes are higher than in 90% of U.S. cities. A typical house costs about 3.1 years of household income. Commutes are long, about 33.2 minutes each way. Most homes (89%) are owned, so rentals can be hard to find. It is a highly educated city: 63.6% of adults have a college degree.

How much money do I need?

To rent here comfortably, you should earn about $140,040 a year. That is $67 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 333 of 334 cities from cheapest to most expensive.

Lake Barrington
$3,500+
Candlewick Lake
$1,681
Spring Valley
$1,012
Carlinville
$911
Northfield
$2,304
Genoa
$1,040
Wilmington
$1,329

How much do households earn in Lake Barrington?

Under $25k
10.0%
$25k–50k
9.8%
$50k–100k
23.2%
$100k–150k
14.9%
$150k+
39.8%

Share of households by yearly income. 54.7% of households earn $100,000 or more.

How expensive is Lake Barrington 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 Lake Barrington, so the Illinois figure is shown.

Taxes and bills in Lake Barrington

🏛️ Property tax$9,110a year · 1.92% of home value · U.S. $3,119
⚡ Electric bill$173a month (typical) · U.S. $156

Life in Lake Barrington

Commute to work33.2 minU.S.: 26.4 min
College degree63.6%U.S.: 35.7%
Own their home89%U.S.: 65.2%
Below poverty line6.3%U.S.: 12.5%
Unemployment5.9%U.S.: 5.2%

Is it cheaper to rent or buy in Lake Barrington?

Buying is cheaper month to month: about $200 a month less than renting.

Renting
$3,500+
Owning
$3,301

Owning assumes a typical $475,700 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $47,570 for the down payment.

Frequently asked questions

What is the average rent in Lake Barrington, IL?

Renting in Lake Barrington costs a median of about $3,500+ a month in 2026, including utilities. The Illinois median is $1,517.

How much do I need to make to live in Lake Barrington?

To keep rent under 30% of income, you need about $140,040 a year, or $67 an hour at a full-time job.

Is Lake Barrington cheap or expensive?

Lake Barrington is rated OK: rent takes 27.4% of the typical household income of $153,102. It ranks 333rd cheapest of 334 Illinois cities we track.

How much are property taxes in Lake Barrington?

The median homeowner in Lake Barrington pays $9,110 a year in property taxes, about 1.92% of the median home value.

Is Lake Barrington 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 Lake Barrington?

The median home value in Lake Barrington is $475,700, about 3.1 times the typical yearly household income.

5,442 people live in Lake Barrington. Numbers are typical (middle) values.