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 2024 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 $158,663/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.
Table Of Contents: Top Ten | Methodology | Summary | Table
The 10 Most Expensive Places To Live In Illinois For 2024
What’s the most expensive place to live in Illinois? Well, HomeSnacks crunched the numbers and discovered that South Barrington is the most expensive place to live in Illinois.
Centralia (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 2024
/10
The overall cost of living in South Barrington is 208. The median income in South Barrington comes in at $226,042 and the average home value is $957,504 for 2024.
/10
Population: 12,607
Cost Of Living Index: 204
Median Income: $250,001
Average Home Price: $1,450,397
Home Price To Income Ratio: 5.8x
More on Winnetka: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Winnetka is 204. The median income in Winnetka comes in at $250,001 and the average home value is $1,450,397 for 2024.
/10
Population: 17,169
Cost Of Living Index: 190
Median Income: $250,001
Average Home Price: $1,010,524
Home Price To Income Ratio: 4.0x
More on Hinsdale: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Hinsdale is 190. The median income in Hinsdale comes in at $250,001 and the average home value is $1,010,524 for 2024.
/10
Population: 8,787
Cost Of Living Index: 190
Median Income: $228,750
Average Home Price: $1,230,212
Home Price To Income Ratio: 5.4x
More on Glencoe: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Glencoe is 190. The median income in Glencoe comes in at $228,750 and the average home value is $1,230,212 for 2024.
/10
Population: 19,436
Cost Of Living Index: 189
Median Income: $202,153
Average Home Price: $997,291
Home Price To Income Ratio: 4.9x
More on Lake Forest: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Lake Forest is 189. The median income in Lake Forest comes in at $202,153 and the average home value is $997,291 for 2024.
/10
Population: 8,065
Cost Of Living Index: 188
Median Income: $158,663
Average Home Price: $823,438
Home Price To Income Ratio: 5.2x
More on Oak Brook: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Oak Brook is 188. The median income in Oak Brook comes in at $158,663 and the average home value is $823,438 for 2024.
/10
Population: 7,722
Cost Of Living Index: 170
Median Income: $207,623
Average Home Price: $700,604
Home Price To Income Ratio: 3.4x
More on Inverness: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Inverness is 170. The median income in Inverness comes in at $207,623 and the average home value is $700,604 for 2024.
/10
Population: 9,111
Cost Of Living Index: 168
Median Income: $215,817
Average Home Price: $632,847
Home Price To Income Ratio: 2.9x
More on Hawthorn Woods: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Hawthorn Woods is 168. The median income in Hawthorn Woods comes in at $215,817 and the average home value is $632,847 for 2024.
/10
Population: 8,279
Cost Of Living Index: 167
Median Income: $236,172
Average Home Price: $799,502
Home Price To Income Ratio: 3.4x
More on Long Grove: Data | Cost Of Living | Real Estate
The overall cost of living in Long Grove is 167. The median income in Long Grove comes in at $236,172 and the average home value is $799,502 for 2024.
/10
Population: 11,131
Cost Of Living Index: 165
Median Income: $174,342
Average Home Price: $724,731
Home Price To Income Ratio: 4.2x
More on Burr Ridge: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Burr Ridge is 165. The median income in Burr Ridge comes in at $174,342 and the average home value is $724,731 for 2024.
Methodology: How We Determined The Most Expensive Places To Live In The Prairie State For 2024
The two most important things to think about when it comes to being able to afford a city in Illinois are:
- How much money do I make?
- How much do I have to 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 2018-2022 around incomes and costs. They are:
- Overall Cost Of Living Index
- Median Home Price / Median Income (lower is better)
- Median Income / Median Rent (Higher is better)
- Median Home Price
You can then compare these metrics in each of the places in Illinois to figure out which is the most expensive.
You are left with 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 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 South Barrington. We updated this article for 2024. This article is our tenth time ranking the most expensive places to live in Illinois.
Summary: Taking A Chunk Out Of Your Paycheck In Illinois For 2024
Well, there you have it, the places in Illinois that have the highest cost of living, with South Barrington ranking as the most expensive city in the Prairie State.
The most expensive cities in Illinois are South Barrington, Winnetka, Hinsdale, Glencoe, Lake Forest, Oak Brook, Inverness, Hawthorn Woods, Long Grove, and Burr Ridge.
Here’s a look at the most affordable cities in Illinois according to the data:
- Centralia
- Mattoon
- Pana
For more Illinois reading, check out:
- Best Places To Live In Illinois
- Cheapest Places To Live In Illinois
- Most Dangerous Cities In Illinois
- Best Places To Raise A Family In Illinois
- Safest Places In Illinois
- Worst Places To Live In Illinois
Most Expensive Cities In Illinois
| Rank | City | Cost Of Living | Population | Median Income | Average Home Price | Home/Income Ratio |
|---|---|---|---|---|---|---|
| 1 | South Barrington | 208 | 5,001 | $226,042 | $957,504 | 4.2x |
| 2 | Winnetka | 204 | 12,607 | $250,001 | $1,450,397 | 5.8x |
| 3 | Hinsdale | 190 | 17,169 | $250,001 | $1,010,524 | 4.0x |
| 4 | Glencoe | 190 | 8,787 | $228,750 | $1,230,212 | 5.4x |
| 5 | Lake Forest | 189 | 19,436 | $202,153 | $997,291 | 4.9x |
| 6 | Oak Brook | 188 | 8,065 | $158,663 | $823,438 | 5.2x |
| 7 | Inverness | 170 | 7,722 | $207,623 | $700,604 | 3.4x |
| 8 | Hawthorn Woods | 168 | 9,111 | $215,817 | $632,847 | 2.9x |
| 9 | Long Grove | 167 | 8,279 | $236,172 | $799,502 | 3.4x |
| 10 | Burr Ridge | 165 | 11,131 | $174,342 | $724,731 | 4.2x |
| 11 | Wilmette | 162 | 27,801 | $183,750 | $792,941 | 4.3x |
| 12 | Lake Bluff | 160 | 5,919 | $190,179 | $531,837 | 2.8x |
| 13 | Northfield | 160 | 5,707 | $146,538 | $689,829 | 4.7x |
| 14 | River Forest | 154 | 11,568 | $144,784 | $625,449 | 4.3x |
| 15 | Western Springs | 153 | 13,557 | $198,836 | $700,654 | 3.5x |
| 16 | Northbrook | 152 | 34,950 | $150,236 | $573,899 | 3.8x |
| 17 | Highland Park | 152 | 30,209 | $159,567 | $633,282 | 4.0x |
| 18 | Lincolnshire | 152 | 7,907 | $155,395 | $626,704 | 4.0x |
| 19 | Deerfield | 150 | 19,173 | $185,762 | $520,189 | 2.8x |
| 20 | Barrington | 145 | 11,244 | $160,171 | $536,565 | 3.3x |
| 21 | Glenview | 144 | 47,896 | $134,910 | $556,329 | 4.1x |
| 22 | La Grange | 138 | 16,128 | $141,235 | $522,753 | 3.7x |
| 23 | Lincolnwood | 138 | 13,268 | $99,390 | $473,704 | 4.8x |
| 24 | Clarendon Hills | 138 | 8,658 | $115,923 | $561,818 | 4.8x |
| 25 | Campton Hills | 135 | 10,556 | $192,432 | $570,534 | 3.0x |
| 26 | Libertyville | 133 | 20,555 | $161,302 | $523,474 | 3.2x |
| 27 | Park Ridge | 132 | 39,368 | $137,964 | $491,808 | 3.6x |
| 28 | Naperville | 131 | 149,089 | $143,754 | $527,805 | 3.7x |
| 29 | Elmhurst | 131 | 45,648 | $143,492 | $500,450 | 3.5x |
| 30 | Glen Ellyn | 131 | 28,304 | $128,132 | $483,880 | 3.8x |
| 31 | Riverside | 131 | 9,225 | $149,464 | $476,379 | 3.2x |
| 32 | Evanston | 130 | 77,181 | $93,188 | $410,543 | 4.4x |
| 33 | Lake Barrington | 130 | 5,377 | $126,316 | $434,652 | 3.4x |
| 34 | Wheaton | 128 | 53,673 | $113,523 | $431,270 | 3.8x |
| 35 | Downers Grove | 127 | 49,996 | $115,461 | $424,001 | 3.7x |
| 36 | Vernon Hills | 126 | 26,750 | $117,253 | $378,263 | 3.2x |
| 37 | Willow Springs | 126 | 5,862 | $100,775 | $336,794 | 3.3x |
| 38 | Oak Park | 125 | 53,834 | $103,264 | $391,539 | 3.8x |
| 39 | Buffalo Grove | 125 | 42,934 | $127,553 | $378,470 | 3.0x |
| 40 | Homer Glen | 125 | 24,507 | $130,235 | $460,898 | 3.5x |
| 41 | Frankfort | 124 | 20,260 | $157,615 | $439,784 | 2.8x |
| 42 | Lemont | 124 | 17,558 | $128,694 | $491,388 | 3.8x |
| 43 | Winfield | 124 | 9,947 | $136,696 | $401,970 | 2.9x |
| 44 | Highwood | 124 | 5,227 | $105,282 | $389,661 | 3.7x |
| 45 | Morton Grove | 123 | 24,910 | $102,940 | $375,363 | 3.6x |
| 46 | Lisle | 123 | 23,499 | $106,265 | $368,104 | 3.5x |
| 47 | Lake Zurich | 123 | 19,749 | $135,211 | $420,351 | 3.1x |
| 48 | Arlington Heights | 122 | 76,794 | $113,502 | $403,495 | 3.6x |
| 49 | Plainfield | 122 | 44,941 | $143,064 | $363,320 | 2.5x |
| 50 | La Grange Park | 122 | 13,332 | $113,419 | $412,033 | 3.6x |
| 51 | Geneva | 121 | 21,390 | $132,799 | $465,349 | 3.5x |
| 52 | Palos Heights | 121 | 11,965 | $105,366 | $354,730 | 3.4x |
| 53 | Flossmoor | 121 | 9,405 | $140,703 | $318,241 | 2.3x |
| 54 | Skokie | 120 | 67,076 | $91,892 | $358,422 | 3.9x |
| 55 | Westmont | 120 | 24,271 | $82,519 | $347,110 | 4.2x |
| 56 | Darien | 119 | 21,953 | $110,546 | $391,312 | 3.5x |
| 57 | Itasca | 119 | 9,627 | $113,162 | $380,589 | 3.4x |
| 58 | Oswego | 118 | 34,810 | $112,109 | $366,702 | 3.3x |
| 59 | St. Charles | 118 | 32,776 | $110,346 | $402,795 | 3.7x |
| 60 | Mount Prospect | 117 | 56,191 | $100,526 | $372,693 | 3.7x |
| 61 | Hoffman Estates | 117 | 51,744 | $107,428 | $343,446 | 3.2x |
| 62 | Bartlett | 117 | 40,829 | $126,555 | $383,920 | 3.0x |
| 63 | Elk Grove Village | 117 | 32,498 | $93,832 | $334,824 | 3.6x |
| 64 | Bloomingdale | 117 | 22,435 | $96,779 | $375,771 | 3.9x |
| 65 | Mokena | 117 | 19,886 | $122,235 | $406,985 | 3.3x |
| 66 | Prospect Heights | 117 | 15,861 | $84,459 | $272,322 | 3.2x |
| 67 | Sugar Grove | 117 | 9,251 | $118,628 | $393,885 | 3.3x |
| 68 | West Dundee | 117 | 7,845 | $99,653 | $366,743 | 3.7x |
| 69 | Gurnee | 116 | 30,629 | $112,633 | $331,348 | 2.9x |
| 70 | Batavia | 116 | 26,355 | $113,824 | $394,060 | 3.5x |
| 71 | Roselle | 116 | 22,846 | $104,167 | $331,035 | 3.2x |
| 72 | Palatine | 115 | 67,223 | $93,383 | $312,692 | 3.3x |
| 73 | Orland Park | 115 | 58,345 | $97,365 | $367,054 | 3.8x |
| 74 | Lombard | 115 | 44,055 | $95,509 | $328,254 | 3.4x |
| 75 | Niles | 115 | 30,637 | $75,783 | $348,195 | 4.6x |
| 76 | Westchester | 115 | 16,694 | $101,414 | $316,020 | 3.1x |
| 77 | Norridge | 115 | 15,291 | $84,539 | $354,846 | 4.2x |
| 78 | Schaumburg | 114 | 77,571 | $92,818 | $304,016 | 3.3x |
| 79 | Mundelein | 114 | 31,583 | $99,924 | $321,147 | 3.2x |
| 80 | West Chicago | 114 | 25,632 | $92,335 | $331,937 | 3.6x |
| 81 | Yorkville | 114 | 21,273 | $105,322 | $357,096 | 3.4x |
| 82 | Willowbrook | 114 | 9,177 | $95,649 | $294,149 | 3.1x |
| 83 | Gilberts | 114 | 8,180 | $120,568 | $358,792 | 3.0x |
| 84 | Chicago | 113 | 2,721,914 | $71,673 | $283,025 | 3.9x |
| 85 | Woodridge | 113 | 34,027 | $95,756 | $356,860 | 3.7x |
| 86 | Rolling Meadows | 113 | 24,054 | $91,287 | $288,538 | 3.2x |
| 87 | Warrenville | 113 | 13,945 | $95,919 | $307,146 | 3.2x |
| 88 | Bolingbrook | 112 | 73,755 | $102,057 | $317,734 | 3.1x |
| 89 | North Aurora | 112 | 17,750 | $104,547 | $338,366 | 3.2x |
| 90 | Wood Dale | 112 | 13,903 | $86,441 | $304,707 | 3.5x |
| 91 | Des Plaines | 111 | 60,087 | $86,552 | $293,438 | 3.4x |
| 92 | Grayslake | 111 | 20,801 | $110,662 | $311,008 | 2.8x |
| 93 | Lindenhurst | 111 | 14,403 | $124,690 | $300,487 | 2.4x |
| 94 | Wauconda | 111 | 14,040 | $108,229 | $292,235 | 2.7x |
| 95 | Harwood Heights | 111 | 8,942 | $77,617 | $336,787 | 4.3x |
| 96 | Volo | 111 | 6,368 | $128,389 | $321,791 | 2.5x |
| 97 | Elburn | 111 | 5,958 | $106,347 | $400,516 | 3.8x |
| 98 | Carol Stream | 110 | 39,656 | $103,525 | $330,804 | 3.2x |
| 99 | Lockport | 110 | 26,119 | $106,923 | $315,083 | 2.9x |
| 100 | South Elgin | 110 | 23,841 | $118,293 | $318,828 | 2.7x |