Skokie, IL

Above Avg · 111

Illinois · Population 66,427 · Updated March 2026

$1,491
Median Rent / Month
$93,550
Median Income
$368,600
Median Home Value
$1,598
Owner Costs / Month

Affordability

How far your income goes in Skokie

19.1%
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

$17,892
Annual Rent
$4,631
State Income Tax
$7,630
Property Tax (est.)

Cost of Living Overview

Skokie is more expensive than the national average. Higher housing costs are typically the primary driver. With a cost index of 111 (where 100 equals the national median), Skokie residents can expect to pay median rent of $1,491/month while earning a median household income of $93,550/year.

The median home value in Skokie, IL is $368,600, with typical monthly owner costs around $1,598 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.1% 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 Skokie.

Frequently Asked Questions

Common questions about living costs in Skokie

What is the cost of living in Skokie, IL?
The cost of living index in Skokie, IL is 111 (US average = 100). Median monthly rent is $1,491, median household income is $93,550/year, and the median home value is $368,600.
Is Skokie, IL affordable?
No, Skokie is more expensive than the national average with a cost index of 111. The rent-to-income ratio is 19.1%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Skokie, IL?
The median gross rent in Skokie, IL is $1,491 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $17,892.
What is the median household income in Skokie?
The median household income in Skokie, IL is $93,550 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%.