Barrington, IL

Very High · 161

Illinois · Population 11,049 · Updated March 2026

$1,886
Median Rent / Month
$150,714
Median Income
$580,900
Median Home Value
$2,444
Owner Costs / Month

Affordability

How far your income goes in Barrington

15.0%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Illinois

State-level tax rates that affect your costs

4.95%
Income Tax (Top Rate)
6.25%
Sales Tax
2.07%
Property Tax Rate

Estimated Annual Costs

$22,632
Annual Rent
$7,460
State Income Tax
$12,025
Property Tax (est.)

Cost of Living Overview

Barrington has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 161 (where 100 equals the national median), Barrington residents can expect to pay median rent of $1,886/month while earning a median household income of $150,714/year.

The median home value in Barrington, IL is $580,900, with typical monthly owner costs around $2,444 including mortgage, insurance, and taxes. The median rent-to-income ratio of 15.0% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Illinois has a moderate income tax rate of 4.95%. Combined with a 6.25% sales tax rate and 2.07% effective property tax rate, the overall tax environment is a factor in the total cost of living in Barrington.

Frequently Asked Questions

Common questions about living costs in Barrington

What is the cost of living in Barrington, IL?
The cost of living index in Barrington, IL is 161 (US average = 100). Median monthly rent is $1,886, median household income is $150,714/year, and the median home value is $580,900.
Is Barrington, IL affordable?
No, Barrington is more expensive than the national average with a cost index of 161. The rent-to-income ratio is 15.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Barrington, IL?
The median gross rent in Barrington, IL is $1,886 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $22,632.
What is the median household income in Barrington?
The median household income in Barrington, IL is $150,714 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Illinois?
Illinois has a top income tax rate of 4.95%, a sales tax of 6.25%, and an effective property tax rate of 2.07%.