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City Report · IL

Libertyville

Pop. 20,525·7th most expensive in Illinois·One of the pricier rental markets in the US
Median rent (all units)
$2,776/mo
Year-over-Year
Stable
Month-over-Month
+9.2%
vs US Median
+$811
Rising (Monthly)
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Most AffordableMost Expensive
Libertyville · $2,776
More expensive than 86% of US cities · National median $1,965/mo
Affordability
20% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $2,776/mo, rent takes about 20% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$111,000/yr
Local median income
$165,667/yr
Based on the 30%-of-income rule using Libertyville's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,710
1 BR
$1,830
2 BR
$2,070
3 BR
$2,660
4 BR+
$3,120
Research median
$2,070/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$33,312/yr
At $2,776/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 0.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+0.0% YoY, +9.2% MoM), not inventory.
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Demographics

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.

Population
20,525
Median income
$165,667
Median age
42.1
Renters
19.7%
Age distribution
25.2%
14.5%
28.4%
13.8%
18.1%
Under 1825.2%
18–3414.5%
35–5428.4%
55–6413.8%
65+18.1%
Gender
48.9%
51.1%
Male48.9%
Female51.1%
Race & ethnicity
81.5%
White81.5%
Black1.1%
Hispanic8.7%
Asian4.7%
Other4%
Education (25+)
17%
71%
No HS diploma2.5%
HS diploma9.5%
Some college17%
Bachelor's+71%
Housing tenure
80.3%
19.7%
Owner80.3%
Renter19.7%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Libertyville, IL has changed in 5 years

Income
$153,674 → $165,667
up 7.8%
Population
20,616 → 20,525
down 0.4%
Renter share
19% → 19.7%
+0.7 pts
Bachelor's+
73.6% → 71%
-2.6 pts

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%.

Community

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View Libertyville rent history (2015–2026) →
Salary vs rent

Can you afford rent in Libertyville on your salary?

At $2,776/mo, how Libertyville rent compares to typical pay (30% rule).

By apartment size

Libertyville rent by bedroom count

Median rent for each apartment size in Libertyville. Click any size for full breakdown.

Local insights

Tips for renters in Libertyville

About renting in Libertyville, IL

Last updated: July 20, 2026

The median rent in Libertyville is $2,776/mo as of July 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 20% 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.

FAQ

Frequently asked questions

Is Libertyville an affordable city for renters?

Libertyville is considered very affordable for renters. At $2,776/mo, rent takes approximately 20% of the local median household income ($165,667/yr). The standard benchmark is 30%. Libertyville falls comfortably within that range.

How much income do you need to rent in Libertyville?

To keep rent at or below 30% of gross income, you would need to earn at least $111,000/year (~$53/hour full-time) to afford the median rent of $2,776/mo in Libertyville. The local median household income is $165,667/yr, meaning the typical Libertyville household meets that threshold.

Is rent going up or down in Libertyville?

Rent in Libertyville has been relatively stable over the past year, with a 0.0% change year over year as of July 2026.

How does Libertyville rent compare to other cities in Illinois?

Libertyville is one of the pricier cities in Illinois for rent, ranking #7 out of 142 tracked cities at $2,776/mo.

Which nearby cities are cheaper to rent in than Libertyville?

Several nearby cities have lower median rents than Libertyville ($2,776/mo): Gurnee ($1,965/mo), Lake Bluff ($2,068/mo), Mundelein ($2,356/mo).

What percentage of Libertyville residents rent vs. own?

According to Census data, approximately 19.7% of Libertyville households are renters, while 80.3% are owner-occupied. Libertyville leans toward homeownership, which can mean a smaller rental inventory.

How does Libertyville rent compare to the national average?

Libertyville's median rent of $2,776/mo is $811 (41%) above the US national median of $1,965/mo. Within Illinois, it ranks #7 out of 142 tracked cities.
Income Affordability
20%
VERY AFFORDABLE

At $2,776/mo, rent takes ~20% of Libertyville's median household income ($165,667/yr). The standard benchmark is 30%.

Libertyville 20%Benchmark 30%
State income tax4.95%
Run the Libertyville affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Libertyville, IL

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