The 10 Most Expensive Places To Live In Illinois For 2023


We used science and data to determine which cities in Illinois that will put a big dent in your wallet.

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Editor’s Note: We updated this article for 2023. This is our tenth time ranking the most expensive places to live in Illinois.

If you guessed that many of Illinois' most expensive places are located around Chicago, you guessed right. The northeast corner of Illinois has a long history of exorbitant home prices, high property taxes, and people who can afford to pay these premium price tags.

Yes, Illinoisans can thank famous mobsters like Al Capone, professional athletes like Michael Jordan, and the CEOs of the state's 36 Fortune 500 companies for driving up the cost in the state's most expensive places. More importantly, you can thank HomeSnacks for creating a list of the most expensive places in Illinois for 2023 so that anyone thinking about moving to The Land of Lincoln will know how to navigate the state's pricey pockets.

Before you head down to our list of Illinois' top ten most expensive places, it's important to note how we calculated our list. First, we looked at the American Community Survey for places with at least 5,000 residents. We then looked at the home to income ratio and the rent to income ratio for each place. This left us with 328 Illinois places that will require you to make at least $65,781/year to offset your cost of living.

So, if you want to know what it's going to take to live in one of the most expensive places in one of the most expensive states in America, take a look below.

Here are the 10 most expensive places to live in Illinois for 2023:

  1. Lincolnwood
  2. Lincolnshire
  3. Evanston
  4. Morton Grove
  5. Highwood
  6. Chicago
  7. Burr Ridge
  8. Norridge
  9. Long Grove
  10. Northfield

What's the most expensive place to live in Illinois? Well, HomeSnacks crunched the numbers and discovered that Lincolnwood is the most expensive place to live in Illinois.

So hopefully Monmouth (the cheapest place to live in Illinois) can show these guys how to live on a budget in the coming years. Read on for how these places had costs rise faster than inflation.

And if you already knew these places were expensive, check out some more reading about Illinois and the most expensive cities in the country:

The 10 Most Expensive Places To Live In Illinois For 2023

1. Lincolnwood

Overall SnackAbility

9
/10

Population: 13,358
Rank Last Year: 4 (Up 2)
Home Price To Income Ratio: 4.2x (17th most expensive)
Income To Rent Ratio: 39.9x (8th most expensive)
More on Lincolnwood: Real Estate | Data

The median income in Lincolnwood comes in at $95,650 and the median home value is $398,500 for 2023.

2. Lincolnshire

Lincolnshire, IL

Source: Public domain
Overall SnackAbility

10
/10

Population: 7,905
Rank Last Year: 3 (No Change)
Home Price To Income Ratio: 3.9x (29th most expensive)
Income To Rent Ratio: 54.0x (44th most expensive)
More on Lincolnshire: Real Estate | Data | Photos

The median income in Lincolnshire comes in at $144,676 and the median home value is $569,600 for 2023.

3. Evanston

Evanston, IL

Source: Public domain
Overall SnackAbility

7.5
/10

Population: 78,454
Rank Last Year: 8 (Up 4)
Home Price To Income Ratio: 4.7x (4th most expensive)
Income To Rent Ratio: 57.2x (73rd most expensive)
More on Evanston: Real Estate | Data | Photos

The median income in Evanston comes in at $87,345 and the median home value is $410,600 for 2023.

4. Morton Grove

Overall SnackAbility

9
/10

Population: 25,004
Rank Last Year: 6 (Up 1)
Home Price To Income Ratio: 3.6x (43rd most expensive)
Income To Rent Ratio: 43.6x (16th most expensive)
More on Morton Grove: Real Estate | Data

The median income in Morton Grove comes in at $91,389 and the median home value is $332,100 for 2023.

5. Highwood

Highwood, IL

Overall SnackAbility

8.5
/10

Population: 5,204
Rank Last Year: 5 (Down 1)
Home Price To Income Ratio: 4.2x (19th most expensive)
Income To Rent Ratio: 57.6x (79th most expensive)
More on Highwood: Real Estate | Data | Photos

The median income in Highwood comes in at $88,913 and the median home value is $369,700 for 2023.

6. Chicago

Chicago, IL

Overall SnackAbility

7
/10

Population: 2,742,119
Rank Last Year: 13 (Up 6)
Home Price To Income Ratio: 4.2x (14th most expensive)
Income To Rent Ratio: 54.4x (46th most expensive)
More on Chicago: Real Estate | Data | Photos

The median income in Chicago comes in at $65,781 and the median home value is $277,600 for 2023.

7. Burr Ridge

Burr Ridge, IL

Overall SnackAbility

10
/10

Population: 11,167
Rank Last Year: 44 (Up 36)
Home Price To Income Ratio: 4.5x (8th most expensive)
Income To Rent Ratio: 63.6x (137th most expensive)
More on Burr Ridge: Real Estate | Data | Photos

The median income in Burr Ridge comes in at $148,214 and the median home value is $672,500 for 2023.

8. Norridge

Overall SnackAbility

6
/10

Population: 15,294
Rank Last Year: 11 (Up 2)
Home Price To Income Ratio: 3.9x (3most expensive)
Income To Rent Ratio: 56.3x (66th most expensive)
More on Norridge: Real Estate | Data

The median income in Norridge comes in at $80,911 and the median home value is $313,900 for 2023.

9. Long Grove

Long Grove, IL

Overall SnackAbility

7
/10

Population: 8,258
Rank Last Year: 18 (Up 8)
Home Price To Income Ratio: 3.2x (70th most expensive)
Income To Rent Ratio: 59.2x (88th most expensive)
More on Long Grove: Real Estate | Data | Photos

The median income in Long Grove comes in at $207,275 and the median home value is $664,000 for 2023.

10. Northfield

Northfield, IL

Overall SnackAbility

7
/10

Population: 5,853
Rank Last Year: 9 (Down 2)
Home Price To Income Ratio: 4.6x (6th most expensive)
Income To Rent Ratio: 65.4x (157th most expensive)
More on Northfield: Real Estate | Data | Photos

The median income in Northfield comes in at $160,331 and the median home value is $743,600 for 2023.

Methodology: How We Determined The Most Expensive Places To Live In The Prairie State For 2023

Map Of The Cheapest Places To Live In Illinois
The two most important things to think about when it comes to being able to afford if you can live comes down to:

  1. How much do money do I make?
  2. How much do I have spend to live there?

You need to understand your costs in the context of how much money you make.

For example, if the median household earns $100,000 and spends $40,000 on housing it's actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.

With that example in mind, we derived several statistics from the latest Census American Community Survey 2017-2021 around incomes and costs. They are:

  • Median Home Price / Median Income (lower is better)
  • Median Income / Median Rent (Higher is better)
  • Median Home Price

We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc).

You can then compare these metrics in each of the places in Illinois to figure out which is the most expensive.

What you are left with is a "Cost of Living Index" by taking the average rank of each of these metrics for each city.

So we used that cost of living index in order to rank all of the 328 places in Illinois that have more than 5,000 people.

The place with the highest cost of living in Illinois according to the data is Lincolnwood. You can download the data here.

Summary: Taking A Chunk Out Of Your Paycheck In Illinois For 2023

Well there you have it, the places in Illinois that have the highest cost of living, with Lincolnwood ranking as the most expensive city in the Prairie State.

Here's a look at the most affordable cities in Illinois according to the data:

  1. Monmouth
  2. Olney
  3. Hillsboro

For more Illinois reading, check out:

Detailed List Of The Most Expensive Cities In Illinois

Rank City ExpensiveScore Population Home/Income Ratio Income/Rent Ratio
1 Lincolnwood 19.33 13,358 4.2x 39.9x
2 Lincolnshire 29.67 7,905 3.9x 54.0x
3 Evanston 36.0 78,454 4.7x 57.2x
4 Morton Grove 37.0 25,004 3.6x 43.6x
5 Highwood 46.0 5,204 4.2x 57.6x
6 Chicago 47.0 2,742,119 4.2x 54.4x
7 Burr Ridge 51.33 11,167 4.5x 63.6x
8 Norridge 53.0 15,294 3.9x 56.3x
9 Long Grove 56.0 8,258 3.2x 59.2x
10 Northfield 56.67 5,853 4.6x 65.4x
11 Niles 57.67 30,971 4.4x 60.2x
12 Elmwood Park 61.33 24,517 4.0x 57.6x
13 North Riverside 61.67 7,382 4.4x 57.5x
14 Lake Bluff 62.33 5,878 3.8x 64.1x
15 Glenview 62.67 48,150 4.3x 65.4x
16 Schiller Park 63.0 11,680 3.9x 51.0x
17 Skokie 66.0 67,444 4.2x 62.6x
18 Lake Barrington 66.33 5,557 3.5x 61.5x
19 Melrose Park 67.33 25,417 3.8x 52.0x
20 Westmont 68.33 24,632 4.1x 62.5x
21 Huntley 69.33 27,314 3.5x 56.0x
22 Prospect Heights 70.67 16,021 4.0x 62.4x
23 Schaumburg 71.33 78,053 3.2x 55.0x
24 Willowbrook 72.67 9,178 3.1x 54.7x
25 Wood Dale 76.67 14,034 3.1x 51.7x
26 Vernon Hills 77.0 26,723 3.1x 60.3x
27 Bloomingdale 77.0 22,436 3.6x 62.5x
28 Summit 80.83 11,098 3.9x 53.2x
29 Urbana 85.67 39,189 4.1x 44.6x
30 Lombard 85.67 44,311 3.1x 57.2x
31 Justice 86.33 12,625 3.4x 52.0x
32 Dekalb 86.67 41,083 3.8x 48.3x
33 Berwyn 87.33 56,960 3.8x 61.3x
34 Carbondale 88.0 22,388 4.8x 33.7x
35 Hillside 88.67 8,286 3.2x 46.4x
36 Forest Park 88.67 14,297 3.6x 62.6x
37 Gilberts 88.83 8,220 2.6x 45.1x
38 Bensenville 89.0 18,801 3.3x 56.8x
39 Worth 89.0 10,909 3.4x 49.2x
40 River Grove 90.0 10,571 3.3x 56.2x
41 Elk Grove Village 90.0 32,763 3.3x 62.7x
42 Harwood Heights 91.33 8,978 4.0x 67.9x
43 Northbrook 92.0 35,108 4.0x 74.4x
44 Rolling Meadows 92.0 24,300 3.1x 58.2x
45 Palatine 92.33 67,754 3.4x 65.1x
46 Pingree Grove 92.67 9,734 2.8x 55.5x
47 Darien 93.0 22,087 3.3x 66.6x
48 Downers Grove 94.67 50,209 3.6x 70.1x
49 Wheaton 96.33 53,762 3.5x 70.5x
50 Woodridge 96.67 34,161 3.2x 64.1x
51 Oak Park 98.0 54,100 4.2x 75.3x
52 Hampshire 98.67 8,019 3.0x 62.0x
53 Orland Park 100.0 58,622 3.3x 66.8x
54 Oak Brook 101.33 8,178 5.5x 90.1x
55 Countryside 102.67 6,354 3.6x 66.7x
56 Arlington Heights 103.33 77,283 3.4x 71.0x
57 Bridgeview 103.67 16,883 3.5x 60.1x
58 Hoffman Estates 104.33 52,153 3.1x 64.6x
59 Addison 104.33 35,999 3.6x 67.3x
60 Lisle 105.0 23,982 3.6x 74.0x
61 Wheeling 106.0 39,104 2.9x 55.1x
62 Des Plaines 107.33 60,413 3.4x 67.9x
63 Cicero 107.67 84,905 3.3x 57.6x
64 Westchester 108.0 16,837 2.7x 59.3x
65 Champaign 108.33 88,343 3.2x 54.4x
66 Elburn 108.33 5,981 2.7x 61.6x
67 Itasca 109.0 9,623 3.2x 70.8x
68 River Forest 109.33 11,742 4.7x 94.0x
69 Barrington 109.33 11,174 3.8x 82.5x
70 Spring Grove 109.67 5,713 2.4x 59.2x
71 Mount Prospect 109.67 56,510 3.6x 74.6x
72 Oak Lawn 110.0 58,032 3.1x 61.9x
73 Glencoe 110.67 8,824 5.2x 128.0x
74 Crest Hill 111.0 20,305 2.9x 51.4x
75 Broadview 111.0 7,997 3.1x 55.3x
76 Stickney 112.5 7,074 3.2x 59.7x
77 Lake Forest 112.67 19,450 4.2x 103.2x
78 Park Ridge 112.67 39,562 3.7x 82.5x
79 Elmhurst 112.67 45,661 3.6x 79.2x
80 Winnetka 113.33 12,658 4.5x 151.6x
81 Clarendon Hills 113.67 8,707 4.6x 96.3x
82 La Grange 114.33 16,220 4.1x 91.2x
83 Buffalo Grove 115.0 43,062 2.8x 67.3x
84 Hickory Hills 115.83 14,483 3.6x 68.5x
85 Lake Zurich 116.0 19,807 3.0x 70.6x
86 La Grange Park 116.33 13,501 3.6x 81.7x
87 Mchenry 117.0 27,237 2.6x 54.5x
88 Winfield 117.67 9,852 2.5x 62.6x
89 Wilmette 118.33 27,895 4.1x 118.8x
90 Warrenville 118.33 13,738 2.6x 58.8x
91 Chicago Ridge 118.67 14,413 3.0x 55.1x
92 St. Charles 119.0 32,908 3.0x 70.2x
93 Hanover Park 119.33 37,545 2.7x 57.6x
94 Hinsdale 119.33 17,148 3.9x 122.4x
95 Glendale Heights 119.67 33,443 2.7x 57.1x
96 Highland Park 120.33 30,245 3.4x 84.6x
97 Streamwood 121.17 39,736 2.4x 52.1x
98 North Aurora 123.0 17,892 3.0x 66.1x
99 Naperville 125.0 149,013 3.2x 82.5x
100 Deerfield 125.33 19,228 3.1x 83.1x

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About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.