Northlake, IL

Below Avg · 82

Illinois · Population 12,547 · Updated March 2026

$1,164
Median Rent / Month
$77,564
Median Income
$242,400
Median Home Value
$1,238
Owner Costs / Month

Affordability

How far your income goes in Northlake

18.0%
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

$13,968
Annual Rent
$3,839
State Income Tax
$5,018
Property Tax (est.)

Cost of Living Overview

Northlake is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 82 (where 100 equals the national median), Northlake residents can expect to pay median rent of $1,164/month while earning a median household income of $77,564/year.

The median home value in Northlake, IL is $242,400, with typical monthly owner costs around $1,238 including mortgage, insurance, and taxes. The median rent-to-income ratio of 18.0% 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 Northlake.

Frequently Asked Questions

Common questions about living costs in Northlake

What is the cost of living in Northlake, IL?
The cost of living index in Northlake, IL is 82 (US average = 100). Median monthly rent is $1,164, median household income is $77,564/year, and the median home value is $242,400.
Is Northlake, IL affordable?
Yes, Northlake is more affordable than the national average with a cost index of 82. The rent-to-income ratio is 18.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Northlake, IL?
The median gross rent in Northlake, IL is $1,164 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $13,968.
What is the median household income in Northlake?
The median household income in Northlake, IL is $77,564 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%.