At $2,206/mo, rent takes about 16% of the local median household income, comfortably within the 30% benchmark.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,206 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
Rent in Libertyville changed -1.3% over the year to September 2026. Across the 94 Illinois cities Zillow tracks, the typical change was +4.0%.
Rent rose in 8 of the last 12 months.
30% of the median household income ($165,667) is $4,142 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($3,120).
Gurnee, 5 miles away, rents for 12% less ($1,944/mo), about $3,100 a year in savings.
From Zillow's monthly rent index (ZORI) for Libertyville. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Libertyville, IL is majority owner-occupied, has a large share of families with children, has a median income above the national average, 71% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Libertyville, IL has changed in 5 years
Household income in the area moved from $153,674 to $165,667 across the same window, up 7.8% versus 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher slipped from 73.6% to 71%.
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Can you afford rent in Libertyville on your salary?
At $2,206/mo, how Libertyville rent compares to typical pay (30% rule).
Libertyville rent by bedroom count
Median rent for each apartment size in Libertyville. Click any size for full breakdown.
Tips for renters in Libertyville
Last updated: October 17, 2026
The median rent in Libertyville is $2,206/mo as of October 2026. A studio apartment averages $1,710/mo while a 2-bedroom runs $2,070/mo. One-bedroom apartments average $1,830/mo and 3-bedroom units go for $2,660/mo.
At 16% of local median household income ($165,667/yr), Libertyville ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.
Frequently asked questions
How much income do you need to rent in Libertyville?
Is rent going up or down in Libertyville?
How does Libertyville rent compare to other cities in Illinois?
Which nearby cities are cheaper to rent in than Libertyville?
At $2,206/mo, rent takes ~16% of Libertyville's median household income ($165,667/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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