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Cost of Living in Gurnee

Is it better to rent or buy in Gurnee? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$126,464
$1,728/mo

Median in area: $1,728

$338,734

Median in area: $338,734

$67,747

If you Rent

🔑
$1,949 /mo
Base Rent$1,728
Est. Utilities$221
% of Income18.5%
Pre-tax Residual$8,590

If you Buy

🏠
$2,784 /mo
P&I (6.925%)$1,789
Taxes & Ins$774
Est. Utilities$221
% of Income26.4%
Pre-tax Residual$7,754

Cost of Living FAQs

Is it cheaper to rent or buy in Gurnee?›

Based on median housing data, renting is currently more affordable on a monthly basis in Gurnee. The estimated all-in monthly cost for renting is $1,949, while owning a median-priced home with a 20% down payment is roughly $2,784 per month (a difference of $835).

How much do utilities cost in Gurnee?›

The average monthly utility cost (electricity and natural gas) for a typical home in Gurnee is approximately $221. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Gurnee?›

To comfortably afford the median rent and utilities in Gurnee without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $77,960 per year.