Carpentersville, IL

Average · 91

Illinois · Population 37,544 · Updated March 2026

$1,420
Median Rent / Month
$86,327
Median Income
$225,200
Median Home Value
$1,468
Owner Costs / Month

Affordability

How far your income goes in Carpentersville

19.7%
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

$17,040
Annual Rent
$4,273
State Income Tax
$4,662
Property Tax (est.)

Cost of Living Overview

Carpentersville offers a below-average cost of living, giving residents more purchasing power compared to many US cities. With a cost index of 91 (where 100 equals the national median), Carpentersville residents can expect to pay median rent of $1,420/month while earning a median household income of $86,327/year.

The median home value in Carpentersville, IL is $225,200, with typical monthly owner costs around $1,468 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.7% 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 Carpentersville.

Frequently Asked Questions

Common questions about living costs in Carpentersville

What is the cost of living in Carpentersville, IL?
The cost of living index in Carpentersville, IL is 91 (US average = 100). Median monthly rent is $1,420, median household income is $86,327/year, and the median home value is $225,200.
Is Carpentersville, IL affordable?
Yes, Carpentersville is more affordable than the national average with a cost index of 91. The rent-to-income ratio is 19.7%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Carpentersville, IL?
The median gross rent in Carpentersville, IL is $1,420 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $17,040.
What is the median household income in Carpentersville?
The median household income in Carpentersville, IL is $86,327 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%.