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Cost of Living in Libertyville

Is it better to rent or buy in Libertyville? 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.

$176,573
$1,768/mo

Median in area: $1,768

$549,774

Median in area: $549,774

$109,955

If you Rent

🔑
$2,011 /mo
Base Rent$1,768
Est. Utilities$243
% of Income13.7%
Pre-tax Residual$12,703

If you Buy

🏠
$4,062 /mo
P&I (6.836%)$2,878
Taxes & Ins$941
Est. Utilities$243
% of Income27.6%
Pre-tax Residual$10,653

Cost of Living FAQs

Is it cheaper to rent or buy in Libertyville?›

Based on median housing data, renting is currently more affordable on a monthly basis in Libertyville. The estimated all-in monthly cost for renting is $2,011, while owning a median-priced home with a 20% down payment is roughly $4,062 per month (a difference of $2,051).

How much do utilities cost in Libertyville?›

The average monthly utility cost (electricity and natural gas) for a typical home in Libertyville is approximately $243. This estimate uses local utility rate schedules combined with median energy consumption profiles.

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

To comfortably afford the median rent and utilities in Libertyville without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $80,440 per year.