salaryRent is higher than in 52% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Commutes are long, about 33.7 minutes each way. It is a highly educated city: 55.6% of adults have a college degree.
How much money do I need?
To rent here comfortably, you should earn about $67,800 a year. That is $33 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 207 of 334 cities from cheapest to most expensive.
How much do households earn in Lake Villa?
Share of households by yearly income. 48.2% of households earn $100,000 or more.
Rent by apartment size in Lake Villa
| Size | Lake Villa | U.S. average |
|---|---|---|
| 1 bedroom | $1,178 | $1,324 |
| 2 bedrooms | $1,899 | $1,509 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Lake Villa overall?
Everyday prices in Illinois overall are same as the U.S. average (index 100.0, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Lake Villa, so the Illinois figure is shown.
Taxes and bills in Lake Villa
Life in Lake Villa
Is it cheaper to rent or buy in Lake Villa?
Renting is cheaper right now: about $745 a month less.
Owning assumes a typical $351,700 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $35,170 for the down payment.
Frequently asked questions
What is the average rent in Lake Villa, IL?
Renting in Lake Villa costs a median of about $1,695 a month in 2026, including utilities. The Illinois median is $1,517.
How much do I need to make to live in Lake Villa?
To keep rent under 30% of income, you need about $67,800 a year, or $33 an hour at a full-time job.
Is Lake Villa cheap or expensive?
Lake Villa is rated Cheap: rent takes 15.9% of the typical household income of $128,072. It ranks 207th cheapest of 334 Illinois cities we track.
How much are property taxes in Lake Villa?
The median homeowner in Lake Villa pays $10,000+ a year in property taxes, about 2.84% of the median home value.
Is Lake Villa 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 Villa?
The median home value in Lake Villa is $351,700, about 2.7 times the typical yearly household income.
8,683 people live in Lake Villa. Numbers are typical (middle) values.