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Cost of Living in Wilmette

Is it better to rent or buy in Wilmette? 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.

$196,801
$2,293/mo

Median in area: $2,293

$856,468

Median in area: $856,468

$171,294

If you Rent

🔑
$2,626 /mo
Base Rent$2,293
Est. Utilities$333
% of Income16.0%
Pre-tax Residual$13,774

If you Buy

🏠
$5,695 /mo
P&I (6.605%)$4,378
Taxes & Ins$984
Est. Utilities$333
% of Income34.7%
Pre-tax Residual$10,705

Cost of Living FAQs

Is it cheaper to rent or buy in Wilmette?›

Based on median housing data, renting is currently more affordable on a monthly basis in Wilmette. The estimated all-in monthly cost for renting is $2,626, while owning a median-priced home with a 20% down payment is roughly $5,695 per month (a difference of $3,069).

How much do utilities cost in Wilmette?›

The average monthly utility cost (electricity and natural gas) for a typical home in Wilmette is approximately $333. This estimate uses local utility rate schedules combined with median energy consumption profiles.

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

To comfortably afford the median rent and utilities in Wilmette without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $105,040 per year.