Cost of Living in Waukegan, IL
Cost of Living in Waukegan, IL has an overall index of 89, 11% below the U.S. baseline of 100. The typical home value is $231,782; typical monthly rent is $1,163; and median household income is $70,578.
Cost index: committed city housing/rent inputs and BEA 2024 metro-area price parities. Home value: Zillow ZHVI market signal as of 2026-02. Rent: Census ACS 2023 fallback place estimate. A place-level signal, not a personal affordability decision or financial recommendation.
Rent and home prices are comparatively balanced with local income. This describes the local market, not your household.
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Frequently asked questions about Waukegan
Living in Waukegan
Is Waukegan, IL an affordable place to live?+
Yes — everyday expenses in Waukegan run about 11% below the US average (Cost Index: 89). Housing is especially affordable: the median home is valued around $231,782, compared to the $303,400 national median. Monthly rent is $1,163, versus $1,348 nationally.
How does Waukegan fit a household housing budget?+
Start with housing. Typical monthly rent is $1,163, while local median household income is $70,578. That implies a rent-burden proxy of about 20% before utilities and other costs. Use that as a planning signal for whether the place looks manageable under your own household assumptions.
How much are taxes in Waukegan, IL?+
Illinois uses a flat model; 4.95% is top marginal-rate context. Applying the 2.07% state-level effective owner-occupied proxy to a home worth $231,782 gives a planning estimate near $4,798 per year; it is not a city, county, parcel, or individual tax bill. State plus average local sales-tax context is around 8.82%.
How much does it cost to rent in Waukegan, IL?+
The typical monthly rent in Waukegan is around $1,163. That's roughly 14% lower than the $1,348 national median. For comparison, the median home value here is $231,782, so buyers should also factor in mortgage payments, property taxes, and insurance.
How much does a house cost in Waukegan, IL?+
The typical home value in Waukegan is $231,782. With 20% down and the committed 6.11% national 30-year fixed benchmark as of 2026-03-12, principal and interest are roughly $1,125/month before property tax and insurance. This is a planning estimate, not a local lender quote. About 51% of residents here own their homes.
Are groceries and utilities expensive in Waukegan?+
Grocery prices in Waukegan are noticeably pricier compared to the rest of the US (index: 107, where 100 is the national average). Utility bills (electricity, gas, water) are below average (index: 84). Overall, these everyday costs shouldn't cause major surprises if you're moving from another similarly-sized US city.
What is Waukegan, IL like to live in?+
Waukegan is a smaller city with a population of about 88,919. The median age of residents is 34.6, which is close to the national median. The local poverty rate is 15.33%, near the national average of 12.4%.