Most Expensive Cities to Live in Illinois 2024: When you call Illinois home, you become a member of a community that is kind and accepting of people of all backgrounds and that really comes to life after dark.
The state of Illinois is home to some of the nation’s most desirable residential communities.
It is the location of Chicago, whose skyline and culture are well known to all of us, as well as Springfield, where we may enjoy shopping and dining at one of the nation’s oldest malls.
There are a lot of wonderful spots in Illinois that are suited for families, particularly if you have young children. Peoria, Joliet, and Springfield are just a few examples of the cities in this group.
There are a large number of parks and other amenities where children can safely play, and there is something for everyone, including theme parks, arts and crafts museums, and other types of attractions.
When it comes to providing a quality education, Illinois schools are second to none. Across the entirety of our state, we have more than 500 school districts that educate students from kindergarten all the way through college. This amounts to more than 6 million students!
These districts make it possible for anybody to obtain a high-quality education at a cost that is within their means by providing access to everything from public schools to private institutions.
This article will take a look at the cities in Illinois that are the most expensive to live in.
Most Expensive Places to Live in Illinois
When it comes to culture, history, and entertainment, the cities of Illinois have a lot to offer. This is especially true for Chicago. The state is home to some of the most attractive cities in the country, including Chicago and Springfield, both of which may be found here.
On the other hand, these locations are also among the costliest cities in the United States. In order to be able to afford to live in one of these highly regarded communities, you will need to set aside a substantial amount of money.
Here are the five most expensive cities to live in Illinois:
The community is considered to be a suburb of Chicago and may be found on the northern shore of Lake Michigan. It is widely known that Kenilworth is a wealthy and closed-off enclave due to its exclusive nature.
Both the average family income of over $227,404 and the median home price of over $2 million are well above the national average.
Even though it’s a relatively unimportant town, Kenilworth is home to a few remarkable people. Former U.S. President Barack Obama, award-winning actor Harrison Ford, and multibillionaire Warren Buffett are just a few of the most well-known people to call Kenilworth home.
What Makes Kenilworth So Expensive
A large number of high-earning professionals call the affluent suburb of Kenilworth, which is located in the city of Chicago, home. The area’s high cost of living can be somewhat attributed to the abundance of high-end amenities and attractions that can be found there.
There is a lot to like about Kenilworth, and the price tag reflects that, as it comes with top-rated schools and luxurious residences among other desirable features.
If you have the financial means, Kenilworth is a wonderful location to call home. The school system in the hamlet is highly regarded, there is a low prevalence of violent crime, and there is an abundance of things to do.
2. Winnetka (Most Expensive Cities to Live in Illinois)
Village located in Cook County, Illinois, Winnetka is in the United States of America. At the time of the census in 2020, there were 12,361 people living there. Within the greater Chicago metropolitan area, Winnetka is recognized as one of the most affluent communities.
The median price of a property in Winnetka is $1.6 million, which makes it among the most costly communities in which to reside in the state of Illinois. The village’s high cost of living can be attributed to the fact that it has high-quality schools, a low crime rate, and near proximity to Chicago.
Families who are looking for a suburb that offers a great quality of life are moving to Winnetka in large numbers despite the fact that real estate in the area is somewhat expensive.
What Makes Winnetka So Expensive
Winnetka is a wealthy suburb of Chicago that is well-known for the expansive homes and high real estate prices that can be found there. It’s a well-known fact that Winnetka, Illinois, is the state’s most costly city to reside in.
This is due to a combination of numerous causes, one of which is the high expense of living in Chicago, as well as the great demand for houses in Winnetka.
Because Winnetka is home to some of the finest educational institutions in the state, it is an appealing location for families looking to start or expand their family.
In general, the high cost of living in Winnetka may be attributed to a number of different causes, the most important of which are the high demand for housing and the exceptional quality of life.
Because the median price of a home in Glencoe is $1.3 million, the cost of living there is certainly not inexpensive. It is without a doubt one of the best places to live in Illinois, despite the fact that it is also one of the most costly places to do so.
On the other hand, if you are able to pay the price to live here, you will be rewarded with stunning scenery and a superior standard of living.
The town has a population of just over 8,836 people in 2020, which places it squarely in the category of being on the lower end of the spectrum. However, this does not imply that there are not a lot of things to do.
What Makes Glencoe So Expensive
The high cost of living in Glencoe can be attributed to a number different things. To begin, the town is found in a region that is extremely favorable to live in. It’s not too far from Chicago, but it’s also not too close, so you won’t be overwhelmed by the rush and bustle of the city.
The town is home to some of the most prestigious educational institutions in the state, which contributes to the elevated cost of living there.
The high property taxes in this town are another another aspect that contributes to the overall high cost of living in this area.
Because Glencoe has some of the highest property taxes in Illinois, people are required to pay a higher total price for their homes than in other parts of the state.
4. Hinsdale (Most Expensive Cities to Live in Illinois)
Living in Hinsdale, Illinois is consistently ranked as one of the most costly options across the entirety of the state. The staggering median price of a property is now one million dollars.
That is over double the median price of a property in Lake Forest, Illinois, which is the second most expensive city in the state. The town is known throughout the state as the location of some of the best shopping, dining, and entertainment venues.
In addition to that, the educational opportunities here are unrivaled. When it comes to living in comfort and style, Hinsdale is the place to be if your budget allows it.
What Makes Hinsdale So Expensive
There are a few different factors that contribute to Hinsdale’s status as one of the most costly cities in the state of Illinois to reside in. To begin, the city has a high property tax rate, which indicates that homeowners are responsible for paying a higher total amount in property taxes.
The cost of living in Hinsdale is expensive, and the city does not have a lot of housing options that are within a reasonable price range.
Last but not least, due to the fact that the city’s educational institutions are consistently ranked among the highest in the state, it is an appealing location for families that have children.
Because of the cumulative effect of all of these factors, the cost of living in Hinsdale is among the highest of any city in the state of Illinois.
You need not look any further than Golf if you are seeking for a location to reside in that provides a great deal of opulent amenities. This upscale town can be found in Cook County and is recognized as one of the most costly places to reside in the state of Illinois.
Because the median price of a home in Golf is $962,147, the city is consistently ranked as one of the most expensive in the state. The exorbitant price tag, however, does come with a number of bonuses, one of which being access to some of the top golf courses in the state.
What Makes Golf So Expensive
The relatively high cost of living in Golf, Illinois can be attributed to a number of different things. The first of these is the location of the town.
Golf Housing prices in Illinois are significantly higher than those in the rest of the state due to the state’s proximity to the city of Chicago. Illinois is located in the northwest region of the state.
The size of the town is the second element to consider. Golf Illinois is one of the least populous towns in the state of Illinois, with a total population of just 521 people as of the year 2020.
This means that there are fewer housing options, and those that are available are typically more expensive than the housing options found in towns with a bigger population.
6. Bannockburn (Most Expensive Cities to Live in Illinois)
A community in northern Illinois, Bannockburn may be found about 40 kilometers (about 25 miles) north of Chicago’s central business district.
The hamlet has a population of slightly more than 1,194 (2020) people, and it has a median home price that is slightly higher than $966,000, which putting it among the most expensive locations to reside in the state.
Bannockburn is recognized for being a moderately prosperous community, and as a result, its citizens have access to excellent educational opportunities and a variety of amenities.
The Bannockburn Country Club and the Bannockburn Library are just two of the many companies and organizations that call the area their home.
What Makes Bannockburn So Expensive
The suburb of Bannockburn in Illinois is known for its high level of wealth. It is one of the most costly places to live in the state, and the high cost of living there can be attributed to a number of different variables.
The fact that Bannockburn is situated in Lake County is one of the primary factors contributing to the city’s high cost of living.
One of the primary contributors to Bannockburn’s expensive cost of living is the fact that the county in which it is located imposes property taxes that are among the highest in the state as a whole.
The fact that there is an extremely low rate of crime in Bannockburn is another contributor to the city’s high cost of living. The fact that this suburb is found in an extremely secure neighborhood is one of the factors that adds to its expensive cost of living.
Additionally, Bannockburn is home to an excellent public education system. The fact that this suburb is located within the boundaries of the highly acclaimed Lincoln-Way Community Consolidated School District is one factor that adds to the high cost of living in the area.
7. Lake Forest
The cost of living in Lake Forest, Illinois, is the ninth highest of any city in the state. The price of a property in the median range is $956,000. A little more than 19,000 people currently call the city their home. Lake Forest is a community that is considered to be a suburb of Chicago and can be found in Lake County.
The city is home to a number of significant corporations, the most notable of which being S&C Electric Company and Tenneco. In addition to a golf course and a country club, the city of Lake Forest is home to a number of parks and other recreational sites.
In addition, the city is home to a number of prestigious private schools, making it an appealing location for families to make their home. Lake Forest is a lovely and handy place to call home, but residents must be prepared to pay a premium price for the privilege.
8. South Barrington (Most Expensive Cities to Live in Illinois)
It is one of the most expensive cities in the state, with a median home price of $929,000, making it one of the most expensive cities in the nation. However, in exchange for your financial investment, you have access to a dazzling and prosperous neighborhood.
One of the wealthiest towns in the surrounding area, South Barrington is found in the far northwest suburbs of Chicago and is known for its upscale real estate. The typical household earns more than $183,750 annually, and the price of a property in the median range is close to $1 million.
The neighborhood is well-known for its upscale dining and retail opportunities, in addition to the superior quality of its educational institutions.
9. Barrington Hills
Living in Barrington Hills, which is one of the wealthiest suburbs in the state of Illinois, is now listed as the ninth most expensive city in the United States.
The average annual income of a household is more than $112,794, and the median price of a property is $840,000.
The town is well-known for its high-quality educational opportunities and its low overall crime rate. Additionally, a number of famous people call Barrington Hills home, including Harrison Ford and Bill Murray.
What Makes Barrington Hills So Expensive
Location is the primary factor for the high cost of living in Barrington Hills. The village may be found in McHenry County, Illinois, within the Barrington Hills community, and it is in close proximity to the metropolis of Chicago.
As a direct consequence of this, both the cost of living and the property taxes are rather high. The high expense of living in the hamlet is partially attributable to the fact that it contains a number of luxurious residences and services.
10. Wilmette (Most Expensive Cities to Live in Illinois)
The community of Wilmette can be found in Cook County, Illinois, in the United States. It is situated 23 kilometers (14 miles) to the north of the Chicago downtown area. At the time of the census in 2020, the population was recorded as 27,114. The wealthy way of life, spacious homes, and New England-style town center all contribute to Wilmette’s reputation as a desirable place to live.
CNNMoney.com and Business Insider both ranked the community as one of the wealthiest towns in the United States when they compiled their respective rankings.
The public beach in Wilmette, which runs along the shore of Lake Michigan, is considered to be one of the most popular beaches in the Chicago metropolitan area. The North Shore Channel Trail is another trail that passes through the village and connects it to Evanston, which is located nearby.
The Wilmette Pet Parade, the Memorial Day Parade, the Fourth of July Celebration, the Labor Day Parade, and the Sidewalk Sale Days are all popular annual events that take place in Wilmette.
Most Expensive Cities to Live in Illinois 2024:Newshub360.net