New Lenox, IL

Above Avg · 114

Illinois · Population 27,456 · Updated March 2026

$1,244
Median Rent / Month
$133,071
Median Income
$377,500
Median Home Value
$2,101
Owner Costs / Month

Affordability

How far your income goes in New Lenox

11.2%
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

$14,928
Annual Rent
$6,587
State Income Tax
$7,814
Property Tax (est.)

Cost of Living Overview

New Lenox is more expensive than the national average. Higher housing costs are typically the primary driver. With a cost index of 114 (where 100 equals the national median), New Lenox residents can expect to pay median rent of $1,244/month while earning a median household income of $133,071/year.

The median home value in New Lenox, IL is $377,500, with typical monthly owner costs around $2,101 including mortgage, insurance, and taxes. The median rent-to-income ratio of 11.2% 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 New Lenox.

Frequently Asked Questions

Common questions about living costs in New Lenox

What is the cost of living in New Lenox, IL?
The cost of living index in New Lenox, IL is 114 (US average = 100). Median monthly rent is $1,244, median household income is $133,071/year, and the median home value is $377,500.
Is New Lenox, IL affordable?
No, New Lenox is more expensive than the national average with a cost index of 114. The rent-to-income ratio is 11.2%—below the 30%% threshold considered affordable by HUD.
What is the average rent in New Lenox, IL?
The median gross rent in New Lenox, IL is $1,244 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $14,928.
What is the median household income in New Lenox?
The median household income in New Lenox, IL is $133,071 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%.