Lockport, IL

Average · 107

Illinois · Population 26,228 · Updated March 2026

$1,503
Median Rent / Month
$113,252
Median Income
$298,800
Median Home Value
$1,789
Owner Costs / Month

Affordability

How far your income goes in Lockport

15.9%
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

$18,036
Annual Rent
$5,606
State Income Tax
$6,185
Property Tax (est.)

Cost of Living Overview

Lockport is more expensive than the national average. Higher housing costs are typically the primary driver. With a cost index of 107 (where 100 equals the national median), Lockport residents can expect to pay median rent of $1,503/month while earning a median household income of $113,252/year.

The median home value in Lockport, IL is $298,800, with typical monthly owner costs around $1,789 including mortgage, insurance, and taxes. The median rent-to-income ratio of 15.9% 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 Lockport.

Frequently Asked Questions

Common questions about living costs in Lockport

What is the cost of living in Lockport, IL?
The cost of living index in Lockport, IL is 107 (US average = 100). Median monthly rent is $1,503, median household income is $113,252/year, and the median home value is $298,800.
Is Lockport, IL affordable?
No, Lockport is more expensive than the national average with a cost index of 107. The rent-to-income ratio is 15.9%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Lockport, IL?
The median gross rent in Lockport, IL is $1,503 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $18,036.
What is the median household income in Lockport?
The median household income in Lockport, IL is $113,252 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%.