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City Report · IL

Waukegan

Pop. 89,076·87th most expensive in Illinois·Waukegan rents are up 5.4% over the past year
Median rent (all units)
$1,648/mo
Year-over-Year
+5.4%
Month-over-Month
+3.0%
vs US Median
-$317
Rising (Monthly)
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Most AffordableMost Expensive
Waukegan · $1,648
More affordable than 65% of US cities · National median $1,965/mo
Rent Reality Score
40/100
Fairly priced
OverheatedFairGreat value

Rents are 5% above what Waukegan's 10-year trend predicts — running hotter than its own history.

Actual rent
$1,648/mo
Expected by trend
$1,568/mo
The Rent Reality Score compares today's median rent to where Waukegan's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$1,295
1 BR
$1,390
2 BR
$1,565
3 BR
$2,010
4 BR+
$2,360
Research median
$1,565/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
$19,776/yr
At $1,648/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 5.4% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+5.4% YoY, +3.0% MoM), not inventory.
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Demographics

Who lives here

Waukegan, IL is roughly split between renters and owners, 20.9% of residents hold a bachelor's degree or higher.

Population
89,076
Median income
$71,919
Median age
35.5
Renters
49.8%
Age distribution
22.8%
26.6%
26.4%
12.1%
12.1%
Under 1822.8%
18–3426.6%
35–5426.4%
55–6412.1%
65+12.1%
Gender
50.9%
49.1%
Male50.9%
Female49.1%
Race & ethnicity
28%
17.3%
57.9%
White28%
Black17.3%
Hispanic57.9%
Asian5.5%
Education (25+)
24.7%
28.7%
25.6%
20.9%
No HS diploma24.7%
HS diploma28.7%
Some college25.6%
Bachelor's+20.9%
Housing tenure
50.2%
49.8%
Owner50.2%
Renter49.8%

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

2021 vs 2026

How Waukegan, IL has changed in 5 years

Rent
$1,128 → $1,648
up 46.1%
Income
$58,844 → $71,919
up 22.2%
Population
89,751 → 89,076
down 0.8%
Renter share
51.3% → 49.8%
-1.5 pts
Bachelor's+
19.6% → 20.9%
+1.3 pts
Median age
34.2 → 35.5
+1.3 yrs

Since 2021, the typical rent in Waukegan, IL has increased from $1,128 to $1,648, a 46.1% change over five years. Median household income rose from $58,844 to $71,919 between 2021 and 2024, a 22.2% shift. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. Renters now make up 49.8% of households, compared with 51.3% five years ago. Taken together, the five-year picture in Waukegan, IL reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

Community

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

Can you afford rent in Waukegan on your salary?

At $1,648/mo, how Waukegan rent compares to typical pay (30% rule).

By apartment size

Waukegan rent by bedroom count

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

Local insights

Tips for renters in Waukegan

About renting in Waukegan, IL

Last updated: July 20, 2026

The median rent in Waukegan is $1,648/mo as of July 2026. A studio apartment averages $1,295/mo while a 2-bedroom runs $1,565/mo. One-bedroom apartments average $1,390/mo and 3-bedroom units go for $2,010/mo.

At 27% of local median household income ($71,919/yr), Waukegan ranks as affordable compared to the national benchmark of 30%. Rents have increased 5.4% over the past year.

FAQ

Frequently asked questions

Is Waukegan an affordable city for renters?

Waukegan is considered affordable for renters. At $1,648/mo, rent takes approximately 27% of the local median household income ($71,919/yr). The standard benchmark is 30%. Waukegan falls comfortably within that range.

How much income do you need to rent in Waukegan?

To keep rent at or below 30% of gross income, you would need to earn at least $66,000/year (~$32/hour full-time) to afford the median rent of $1,648/mo in Waukegan. The local median household income is $71,919/yr, meaning the typical Waukegan household meets that threshold.

Is rent going up or down in Waukegan?

Rent in Waukegan has increased 5.4% over the past year as of July 2026, putting upward pressure on renter budgets.

Which Waukegan neighborhoods have the lowest rent?

The most affordable ZIP codes in Waukegan are 60087 ($1,482/mo), and 60085 ($1,724/mo). Citywide, the median rent in Waukegan is $1,648/mo.

How does Waukegan rent compare to other cities in Illinois?

Waukegan is middle-of-the-pack for Illinois for rent, ranking #87 out of 142 tracked cities at $1,648/mo.

Which nearby cities are cheaper to rent in than Waukegan?

Zion is nearby and more affordable at $1,526/mo, which is $122 less than Waukegan.

What percentage of Waukegan residents rent vs. own?

According to Census data, approximately 49.8% of Waukegan households are renters, while 50.2% are owner-occupied. Waukegan leans toward homeownership, which can mean a smaller rental inventory.

How does Waukegan rent compare to the national average?

Waukegan's median rent of $1,648/mo is $317 (16%) below the US national median of $1,965/mo. Within Illinois, it ranks #87 out of 142 tracked cities.
Income Affordability
27%
AFFORDABLE

At $1,648/mo, rent takes ~27% of Waukegan's median household income ($71,919/yr). The standard benchmark is 30%.

Waukegan 27%Benchmark 30%
State income tax4.95%
Run the Waukegan affordability calculator →
Lowest-rent ZIP codes in Waukegan
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Waukegan, IL

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