Lincolnwood, IL

Very High · 193

Illinois · Population 13,179 · Updated March 2026

$3,501
Median Rent / Month
$107,950
Median Income
$475,400
Median Home Value
$2,320
Owner Costs / Month

Affordability

How far your income goes in Lincolnwood

38.9%
Rent-to-Income Ratio
Burdened
Rent takes more than 35% of median income — considered cost-burdened.

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

$42,012
Annual Rent
$5,344
State Income Tax
$9,841
Property Tax (est.)

Cost of Living Overview

Lincolnwood has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 193 (where 100 equals the national median), Lincolnwood residents can expect to pay median rent of $3,501/month while earning a median household income of $107,950/year.

The median home value in Lincolnwood, IL is $475,400, with typical monthly owner costs around $2,320 including mortgage, insurance, and taxes. The 38.9% rent-to-income ratio indicates significant housing cost burden. Residents spend well over a third of their income on rent alone.

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 Lincolnwood.

Frequently Asked Questions

Common questions about living costs in Lincolnwood

What is the cost of living in Lincolnwood, IL?
The cost of living index in Lincolnwood, IL is 193 (US average = 100). Median monthly rent is $3,501, median household income is $107,950/year, and the median home value is $475,400.
Is Lincolnwood, IL affordable?
No, Lincolnwood is more expensive than the national average with a cost index of 193. The rent-to-income ratio is 38.9%—above the 30%% affordability threshold.
What is the average rent in Lincolnwood, IL?
The median gross rent in Lincolnwood, IL is $3,501 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $42,012.
What is the median household income in Lincolnwood?
The median household income in Lincolnwood, IL is $107,950 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%.