States › Illinois › Loves Park

Is Loves Park, IL expensive to live in?

OKRent takes 27 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,52313% lower than U.S. average
💵 Families earn per year (2026)$66,725about $5,560/month · 23% lower than U.S. average
🔑 House price$160,40052% lower than U.S. average

Rent is lower than in 56% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards.

How much money do I need?

To rent here comfortably, you should earn about $60,920 a year. That is $29 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 170 of 334 cities from cheapest to most expensive.

Loves Park
$1,523
Freeport
$995
Lisle
$2,075
Yorkville
$1,838
Westmont
$1,969
Maywood
$1,452
Elmwood Park
$1,451

How much do households earn in Loves Park?

Under $25k
16.7%
$25k–50k
27.2%
$50k–100k
31.4%
$100k–150k
13.9%
$150k+
6.8%

Share of households by yearly income. 20.8% of households earn $100,000 or more.

Rent by apartment size in Loves Park

SizeLoves ParkU.S. average
Studio$928$1,338
1 bedroom$750$1,324
2 bedrooms$1,207$1,509
3 bedrooms$1,520$1,698
4 bedrooms$1,400$2,098

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

How expensive is Loves Park 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 Loves Park, so the Illinois figure is shown.

Taxes and bills in Loves Park

🏛️ Property tax$3,615a year · 2.25% of home value · U.S. $3,119
⚡ Electric bill$107a month (typical) · U.S. $156

Life in Loves Park

Commute to work21.5 minU.S.: 26.4 min
College degree25.7%U.S.: 35.7%
Own their home60.9%U.S.: 65.2%
Below poverty line14.4%U.S.: 12.5%
Unemployment6.3%U.S.: 5.2%

Is it cheaper to rent or buy in Loves Park?

Buying is cheaper month to month: about $410 a month less than renting.

Renting
$1,523
Owning
$1,113

Owning assumes a typical $160,400 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $16,040 for the down payment.

Frequently asked questions

What is the average rent in Loves Park, IL?

Renting in Loves Park costs a median of about $1,523 a month in 2026, including utilities. The Illinois median is $1,517.

How much do I need to make to live in Loves Park?

To keep rent under 30% of income, you need about $60,920 a year, or $29 an hour at a full-time job.

Is Loves Park cheap or expensive?

Loves Park is rated OK: rent takes 27.4% of the typical household income of $66,725. It ranks 170th cheapest of 334 Illinois cities we track.

How much are property taxes in Loves Park?

The median homeowner in Loves Park pays $3,615 a year in property taxes, about 2.25% of the median home value.

Is Loves Park 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 Loves Park?

The median home value in Loves Park is $160,400, about 2.4 times the typical yearly household income.

23,502 people live in Loves Park. Numbers are typical (middle) values.