Housing costs in Lake Villa?
A typical home costs
$288,300, which is 14.7% less expensive than the national average of
$338,100 and 19.3% more expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Lake Villa costs
$1,580 per month, which is 10.5% more than the national average of
$1,430 and 20.3% more than the state average of
$1,260.
Can I afford Lake Villa?
To live comfortably in Lake Villa, Illinois, a minimum annual income of
$55,080 for a family, and
$55,200 for a single person is recommended.
What does A.I. say about Lake Villa?
The cost of living in Lake Villa, IL is generally fairly affordable. The median home value is around $194,000, and the median household income is approximately $81,000 per year. The overall cost of living index is listed as being a bit lower than the national average, at an estimated 94.3 compared to the U.S. average of 100. Groceries are especially affordable in Lake Villa due to its proximity to larger cities like Chicago and Milwaukee, where prices for food are often lower than other regions of Illinois. Additionally, utilities and transportation costs tend to be reasonable compared to those found in larger metropolitan areas. All told, the cost of living in Lake Villa makes it a desirable place to live for many looking for a more affordable way of life.