Quick facts: Libertyville, IL

Quick Facts

102.4
Cost of Living
above US average
20,402
Population
2.3
Crime Rate per 1000
below US average
$161,302
Median Income
above US average
$670,000
Median House Price
above US average
$3208.89
Average Rent
above US average
3%
Poverty Rate
below US average
3.1%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $161,302.

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Income Needed to Buy

βœ— Stretch
$210k/year
Based on $670,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $210k vs median $161,302
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Income Needed to Rent

βœ“ Affordable
$138k/year
Based on $3208.89/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($161,302) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Libertyville, IL

Libertyville, located in Lake County, Illinois, is a charming suburban community that combines a rich history with modern amenities. With a population of around 20,000, Libertyville is known for its picturesque downtown area, featuring a variety of shops, restaurants, and cultural attractions. The village boasts well-preserved historic architecture, with many buildings dating back to the late 19th century. Libertyville's vibrant arts scene is highlighted by venues like the Liberty Theatre and the nearby Lake County Forest Preserves offering recreational activities such as hiking, biking, and nature exploration. Education is a priority in Libertyville, with highly rated public schools in the Libertyville Community High School District and a range of private schooling options. The community is family-friendly, offering numerous parks, playgrounds, and community events year-round. Libertyville is conveniently located close to major highways and is approximately 40 miles north of Chicago, making it an attractive location for commuters. Overall, Libertyville combines a small-town feel with easy access to urban amenities, making it a desirable place to live and raise a family.

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