Fox Lake, IL

Below Avg · 77

Illinois · Population 10,872 · Updated March 2026

$1,059
Median Rent / Month
$69,896
Median Income
$219,300
Median Home Value
$1,303
Owner Costs / Month

Affordability

How far your income goes in Fox Lake

18.2%
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

$12,708
Annual Rent
$3,460
State Income Tax
$4,540
Property Tax (est.)

Cost of Living Overview

Fox Lake is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 77 (where 100 equals the national median), Fox Lake residents can expect to pay median rent of $1,059/month while earning a median household income of $69,896/year.

The median home value in Fox Lake, IL is $219,300, with typical monthly owner costs around $1,303 including mortgage, insurance, and taxes. The median rent-to-income ratio of 18.2% 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 Fox Lake.

Frequently Asked Questions

Common questions about living costs in Fox Lake

What is the cost of living in Fox Lake, IL?
The cost of living index in Fox Lake, IL is 77 (US average = 100). Median monthly rent is $1,059, median household income is $69,896/year, and the median home value is $219,300.
Is Fox Lake, IL affordable?
Yes, Fox Lake is more affordable than the national average with a cost index of 77. The rent-to-income ratio is 18.2%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Fox Lake, IL?
The median gross rent in Fox Lake, IL is $1,059 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $12,708.
What is the median household income in Fox Lake?
The median household income in Fox Lake, IL is $69,896 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%.