Wilmette, IL

Very High · 199

Illinois · Population 27,550 · Updated March 2026

$1,968
Median Rent / Month
$192,300
Median Income
$802,200
Median Home Value
$3,103
Owner Costs / Month

Affordability

How far your income goes in Wilmette

12.3%
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

$23,616
Annual Rent
$9,519
State Income Tax
$16,606
Property Tax (est.)

Cost of Living Overview

Wilmette has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 199 (where 100 equals the national median), Wilmette residents can expect to pay median rent of $1,968/month while earning a median household income of $192,300/year.

The median home value in Wilmette, IL is $802,200, with typical monthly owner costs around $3,103 including mortgage, insurance, and taxes. The median rent-to-income ratio of 12.3% 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 Wilmette.

Frequently Asked Questions

Common questions about living costs in Wilmette

What is the cost of living in Wilmette, IL?
The cost of living index in Wilmette, IL is 199 (US average = 100). Median monthly rent is $1,968, median household income is $192,300/year, and the median home value is $802,200.
Is Wilmette, IL affordable?
No, Wilmette is more expensive than the national average with a cost index of 199. The rent-to-income ratio is 12.3%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Wilmette, IL?
The median gross rent in Wilmette, IL is $1,968 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $23,616.
What is the median household income in Wilmette?
The median household income in Wilmette, IL is $192,300 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%.