Evanston, IL

Very High · 134

Illinois · Population 76,552 · Updated March 2026

$1,698
Median Rent / Month
$95,766
Median Income
$472,300
Median Home Value
$1,898
Owner Costs / Month

Affordability

How far your income goes in Evanston

21.3%
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

$20,376
Annual Rent
$4,740
State Income Tax
$9,777
Property Tax (est.)

Cost of Living Overview

Evanston has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 134 (where 100 equals the national median), Evanston residents can expect to pay median rent of $1,698/month while earning a median household income of $95,766/year.

The median home value in Evanston, IL is $472,300, with typical monthly owner costs around $1,898 including mortgage, insurance, and taxes. The median rent-to-income ratio of 21.3% 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 Evanston.

Frequently Asked Questions

Common questions about living costs in Evanston

What is the cost of living in Evanston, IL?
The cost of living index in Evanston, IL is 134 (US average = 100). Median monthly rent is $1,698, median household income is $95,766/year, and the median home value is $472,300.
Is Evanston, IL affordable?
No, Evanston is more expensive than the national average with a cost index of 134. The rent-to-income ratio is 21.3%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Evanston, IL?
The median gross rent in Evanston, IL is $1,698 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $20,376.
What is the median household income in Evanston?
The median household income in Evanston, IL is $95,766 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%.