Cost of Living in Waukegan, IL
Housing
The housing market plays a significant role in determining the cost of living in Waukegan, IL.
- Housing Index: 95.0 / 100
- Median Home Price is: $248,000
- Average Rent (2 BR Apartment): $1500 per month
- Average Rent (2 BR House): $1600 per month
When considering a move to Waukegan, IL, the housing index of 95.0 indicates it's a relatively affordable market. The median home price of 248000 is accessible compared to the national average, suggesting potential for long-term investment growth. Renting options vary, with an average rent of 1500 for a 2-bedroom apartment and 1600 for a house, reflecting a slight premium for more space. Overall, this data suggests a balanced housing market that might attract both renters and homebuyers seeking value in a competitive landscape.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Waukegan, IL.
- Electricity Price: $16.15 USD (median by state)
- Natural Gas Price: $16.59 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $230 per month
Living in Waukegan, IL could entail higher utility costs. Electricity costs sit at $16.15, while natural gas is priced at $16.59 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $230 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Waukegan is a financially viable option for your relocation.