Lake Barrington, IL Cost Of Living
Cost Of Living In Lake Barrington, IL Summary
Cost of living in Lake Barrington 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 Barrington 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 Barrington is 129, with 100 being the average.
The cost of living index in Lake Barrington is 1.3x higher than the national average.
Lake Barrington ranks as the #309 cheapest in Illinois out of 338.
Lake Barrington ranks as the #5,222 cheapest out of 6,412 in the US.
The median home value in Lake Barrington is $380,500.
The median income in Lake Barrington is $108,563.
Table Of Contents
Lake Barrington's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Lake Barrington, IL?
According to the most recent data on the cost of living, Lake Barrington has an overall cost of living index of 129, which is 1.3x higher than the national index of 100.
Compared to Illinois, Lake Barrington has a cost of living index that's 1.4x higher than Illinois's index of 92.
The standard of living in Lake Barrington ranks as #309 most affordable out of the 338 places we measured in Illinois. By definition, that implies Lake Barrington ranks as the #29 most expensive place in the Prairie State.
For more reading on life in Lake Barrington, check out:
- Living In Lake Barrington
- Search Homes For Sale In Lake Barrington, IL
In Illinois
In America
Lake Barrington Cost Of Living Vs. Illinois
Six factors go into calculating the cost of living index in Lake Barrington. Here is how it fairs on each of the criteria:
The Services index in Lake Barrington is 113.
The Groceries index in Lake Barrington is 106.
The Health index in Lake Barrington is 99.
The Housing index in Lake Barrington is 177.
The Transportation index in Lake Barrington is 112.
The Utilities index in Lake Barrington is 94.
| Living Expense | Lake Barrington | Illinois | National Average | |
|---|---|---|---|---|
| Overall | 129 | 92 | 100 | |
| Services | 113 | 95 | 100 | |
| Groceries | 106 | 98 | 100 | |
| Health | 99 | 96 | 100 | |
| Housing | 177 | 81 | 100 | |
| Transportation | 112 | 105 | 100 | |
| Utilities | 94 | 90 | 100 | |
Lake Barrington, 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 2017-2021. The key points are:
The Median Home Value in Lake Barrington is $380,500.
The Median Rent in Lake Barrington is $1,764.
The Median Income in Lake Barrington is $108,563.
The Home Value To Income in Lake Barrington is 3.5x.
The Rent To Monthly Income in Lake Barrington is 0.19x.
| Statistic | Lake Barrington | Illinois | United States |
|---|---|---|---|
| Median Home Value | $380,500 | $212,600 | $244,900 |
| Median Rent | $1,764 | $1,097 | $1,163 |
| Median Income | $108,563 | $72,563 | $69,021 |
| Home Value To Income | 3.5x | 2.9x | 3.5x |
| Rent To Monthly Income | 0.19x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Lake Barrington, IL Costs By Category
Detailed Lake Barrington Services Costs Vs. Illinois
| Item | Lake Barrington | Illinois |
|---|---|---|
| Shampoo | $1.06 | $1.06 |
| Movie | $14.85 | $10.68 |
| Bowling | $15.76 | $14.67 |
| Haircut | $27.76 | $18.62 |
| Beauty Salon | $65.57 | $39.05 |
Detailed Lake Barrington Groceries Costs Vs. Illinois
| Item | Lake Barrington | Illinois |
|---|---|---|
| Ground Beef | $4.87 | $4.22 |
| Fried Chicken | $1.99 | $1.39 |
| Milk | $2.42 | $2.05 |
| Potatoes | $3.23 | $3.29 |
| Pizza | $12.0 | $10.62 |
| Beer | $8.61 | $9.38 |
| Toothpaste | $2.46 | $2.34 |
Detailed Lake Barrington Health Costs Vs. Illinois
| Item | Lake Barrington | Illinois |
|---|---|---|
| Optometrist | $96.76 | $108.57 |
| Doctor | $104.96 | $116.17 |
| Dentist | $101.82 | $99.13 |
Detailed Lake Barrington Transportation Costs Vs. Illinois
| Item | Lake Barrington | Illinois |
|---|---|---|
| Gasoline | $2.51 | $2.22 |
| Tire Balancing | $56.85 | $50.07 |
Detailed Lake Barrington Utilities Costs Vs. Illinois
| Item | Lake Barrington | Illinois |
|---|---|---|
| All Electricity | $131.89 | $167.67 |
| Phone | $203.16 | $175.64 |
Lake Barrington SnackAbility
/10
Cost Of Living In Cities Around Lake Barrington
The cost of living varies in the cities and towns around Lake Barrington. Here's a quick look at the cost of living in the most populous nearby places:
Arlington Heights, IL has a cost of living index of 125, 1.0x Lake Barrington.
Glenview, IL has a cost of living index of 147, 1.1x Lake Barrington.
Buffalo Grove, IL has a cost of living index of 121, 0.9x Lake Barrington.
| City | Population | Cost Of Living | Vs. Lake Barrington |
|---|---|---|---|
| Arlington Heights, IL | 77,283 | 125 | 1.0x |
| Glenview, IL | 48,150 | 147 | 1.1x |
| Buffalo Grove, IL | 43,062 | 121 | 0.9x |
| Bartlett, IL | 41,126 | 117 | 0.9x |
| Northbrook, IL | 35,108 | 156 | 1.2x |
| Highland Park, IL | 30,245 | 152 | 1.2x |
| Lake Zurich, IL | 19,807 | 125 | 1.0x |
| Deerfield, IL | 19,228 | 150 | 1.2x |
| Cary, IL | 17,919 | 110 | 0.9x |
| Wauconda, IL | 14,068 | 108 | 0.8x |
