Vernon Hills, IL

Above Avg · 129

Illinois · Population 26,772 · Updated March 2026

$1,855
Median Rent / Month
$120,625
Median Income
$384,800
Median Home Value
$1,921
Owner Costs / Month

Affordability

How far your income goes in Vernon Hills

18.5%
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

$22,260
Annual Rent
$5,971
State Income Tax
$7,965
Property Tax (est.)

Cost of Living Overview

Vernon Hills has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 129 (where 100 equals the national median), Vernon Hills residents can expect to pay median rent of $1,855/month while earning a median household income of $120,625/year.

The median home value in Vernon Hills, IL is $384,800, with typical monthly owner costs around $1,921 including mortgage, insurance, and taxes. The median rent-to-income ratio of 18.5% 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 Vernon Hills.

Frequently Asked Questions

Common questions about living costs in Vernon Hills

What is the cost of living in Vernon Hills, IL?
The cost of living index in Vernon Hills, IL is 129 (US average = 100). Median monthly rent is $1,855, median household income is $120,625/year, and the median home value is $384,800.
Is Vernon Hills, IL affordable?
No, Vernon Hills is more expensive than the national average with a cost index of 129. The rent-to-income ratio is 18.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Vernon Hills, IL?
The median gross rent in Vernon Hills, IL is $1,855 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $22,260.
What is the median household income in Vernon Hills?
The median household income in Vernon Hills, IL is $120,625 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%.