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Cost of Living in Lake Villa

Is it better to rent or buy in Lake Villa? 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.

$110,497
$1,785/mo

Median in area: $1,785

$288,827

Median in area: $288,827

$57,765

If you Rent

🔑
$2,014 /mo
Base Rent$1,785
Est. Utilities$229
% of Income21.9%
Pre-tax Residual$7,194

If you Buy

🏠
$2,524 /mo
P&I (6.956%)$1,530
Taxes & Ins$765
Est. Utilities$229
% of Income27.4%
Pre-tax Residual$6,684

Cost of Living FAQs

Is it cheaper to rent or buy in Lake Villa?›

Based on median housing data, renting is currently more affordable on a monthly basis in Lake Villa. The estimated all-in monthly cost for renting is $2,014, while owning a median-priced home with a 20% down payment is roughly $2,524 per month (a difference of $510).

How much do utilities cost in Lake Villa?›

The average monthly utility cost (electricity and natural gas) for a typical home in Lake Villa is approximately $229. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Lake Villa?›

To comfortably afford the median rent and utilities in Lake Villa without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $80,560 per year.