Lake Villa, IL Cost Of Living
Cost Of Living In Lake Villa, IL Summary
Cost of living in Lake Villa research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Lake Villa is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Illinois, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Lake Villa is 114, with 100 being the average.
The cost of living index in Lake Villa is 1.1x higher than the national average.
Lake Villa ranks as the #246 cheapest in Illinois out of 336.
Lake Villa ranks as the #4,023 cheapest out of 6,489 in the US.
The median home value in Lake Villa is $364,757.
The median income in Lake Villa is $111,110.
Table Of Contents
Lake Villa's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Lake Villa, IL?
According to the most recent data on the cost of living, Lake Villa has an overall cost of living index of 114, which is 1.1x higher than the national index of 100.
Compared to Illinois, Lake Villa has a cost of living index that's 1.2x higher than Illinois's index of 97.
The standard of living in Lake Villa ranks as #246 most affordable out of the 336 places we measured in Illinois. By definition, that implies Lake Villa ranks as the #90 most expensive place in the Prairie State.
For more reading on life in Lake Villa, check out:
In Illinois
In America
Lake Villa Cost Of Living Vs. Illinois
Six factors go into calculating the cost of living index in Lake Villa. Here is how it fairs on each of the criteria:
The Services index in Lake Villa is 100.
The Groceries index in Lake Villa is 102.
The Health index in Lake Villa is 111.
The Housing index in Lake Villa is 141.
The Transportation index in Lake Villa is 100.
The Utilities index in Lake Villa is 106.
| Living Expense | Lake Villa | Illinois | National Average | |
|---|---|---|---|---|
| Overall | 114 | 97 | 100 | |
| Services | 100 | 95 | 100 | |
| Groceries | 102 | 99 | 100 | |
| Health | 111 | 93 | 100 | |
| Housing | 141 | 95 | 100 | |
| Transportation | 100 | 102 | 100 | |
| Utilities | 106 | 91 | 100 | |
Lake Villa, IL Housing Cost Breakdown
Housing swings affordability the most between places in Illinois, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Lake Villa is $364,757.
The Median Rent in Lake Villa is $1,430.
The Median Income in Lake Villa is $111,110.
The Home Value To Income in Lake Villa is 3.3x.
The Rent To Monthly Income in Lake Villa is 0.15x.
| Statistic | Lake Villa | Illinois | United States |
|---|---|---|---|
| Median Home Value | $364,757 | $283,508 | $303,400 |
| Median Rent | $1,430 | $1,227 | $1,348 |
| Median Income | $111,110 | $81,702 | $78,538 |
| Home Value To Income | 3.3x | 3.5x | 3.9x |
| Rent To Monthly Income | 0.15x | 0.18x | 0.21x |
Median Home Value
Median Rent
Median Income
Lake Villa, IL Costs By Category
Detailed Lake Villa Services Costs Vs. Illinois
| Item | Lake Villa | Illinois |
|---|---|---|
| Shampoo | $1.07 | $1.28 |
| Movie | $10.26 | $12.13 |
| Bowling | $10.03 | $18 |
| Haircut | $20.21 | $24.26 |
| Beauty Salon | $33.25 | $45.56 |
Detailed Lake Villa Groceries Costs Vs. Illinois
| Item | Lake Villa | Illinois |
|---|---|---|
| Ground Beef | $6.05 | $5.84 |
| Fried Chicken | $1.46 | $1.57 |
| Milk | $4.55 | $4.67 |
| Potatoes | $4.1 | $4.93 |
| Pizza | $11.33 | $12.09 |
| Beer | $8.52 | $10.41 |
| Toothpaste | $3.66 | $3.7 |
Detailed Lake Villa Health Costs Vs. Illinois
| Item | Lake Villa | Illinois |
|---|---|---|
| Optometrist | $278.65 | $125.68 |
| Doctor | $223.73 | $135.78 |
| Dentist | $106.79 | $113.29 |
Detailed Lake Villa Transportation Costs Vs. Illinois
| Item | Lake Villa | Illinois |
|---|---|---|
| Gasoline | $3.3 | $3.46 |
| Tire Balancing | $44.14 | $59.92 |
Detailed Lake Villa Utilities Costs Vs. Illinois
| Item | Lake Villa | Illinois |
|---|---|---|
| All Electricity | $182.69 | $193.99 |
| Phone | $185.79 | $192.25 |
Lake Villa SnackAbility
/10
Cost Of Living In Cities Around Lake Villa
The cost of living varies in the cities and towns around Lake Villa. Here's a quick look at the cost of living in the most populous nearby places:
Buffalo Grove, IL has a cost of living index of 125, 1.1x Lake Villa.
Round Lake Beach, IL has a cost of living index of 100, 0.9x Lake Villa.
Vernon Hills, IL has a cost of living index of 125, 1.1x Lake Villa.
| City | Population | Cost Of Living | Vs. Lake Villa |
|---|---|---|---|
| Buffalo Grove, IL | 42,824 | 125 | 1.1x |
| Round Lake Beach, IL | 27,081 | 100 | 0.9x |
| Vernon Hills, IL | 26,772 | 125 | 1.1x |
| Libertyville, IL | 20,493 | 135 | 1.2x |
| Lake Zurich, IL | 19,727 | 127 | 1.1x |
| Antioch, IL | 14,751 | 109 | 1.0x |
| Lindenhurst, IL | 14,365 | 114 | 1.0x |
| Fox Lake, IL | 10,872 | 101 | 0.9x |
| Hawthorn Woods, IL | 9,145 | 167 | 1.5x |
| Long Grove, IL | 8,266 | 178 | 1.6x |
