Housing costs in Lake Barrington?
A typical home costs
$394,900, which is 16.8% more expensive than the national average of
$338,100 and 63.4% more expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Lake Barrington costs
$2,110 per month, which is 47.6% more than the national average of
$1,430 and 40.3% more than the state average of
$1,260.
Can I afford Lake Barrington?
To live comfortably in Lake Barrington, Illinois, a minimum annual income of
$75,600 for a family, and
$73,600 for a single person is recommended.
What does A.I. say about Lake Barrington?
The cost of living in Lake Barrington, IL is higher than the national average. The median home value is $432,200, which is more than twice the national average. Property taxes are also above average at an estimated 2.08% of the assessed value. The average cost of groceries and other essentials is slightly higher than elsewhere in the state and nation as well. Additionally, utilities such as electricity and water tend to be more expensive in this area. Despite its high costs, Lake Barrington remains a desirable place to live due to its low crime rates and great amenities.