Affordable

What Salary Do You Need to Live in Libertyville?

To afford a 2-bedroom in Libertyville, you need to earn at least $70,040/year based on estimated fair market rent data. The median household income here is $161,302, which means the typical resident is $91,262 above the threshold.

Census ACS Data Pop. 20,555

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$1,226	$4,087	$49,040	$-112,262
1 Bedroom	$1,453	$4,843	$58,120	$-103,182
2 Bedroom BENCHMARK	$1,751	$5,837	$70,040	$-91,262
3 Bedroom	$2,136	$7,120	$85,440	$-75,862
4 Bedroom	$2,627	$8,757	$105,080	$-56,222

Affordability Breakdown

Where the required salary line crosses above Libertyville's median income — housing becomes unaffordable for the typical resident.

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$161,302

Annual household

2BR Required Salary

$70,040

Under 30% rule

Income Gap

+$91,262

Surplus

Verdict

Affordable

Ratio: 13.0%

The 30% Rule Calculator

Enter your annual salary to see what you can afford in Libertyville

Your Annual Salary

Pre-filled with Libertyville's median household income

Max monthly rent you can afford$4,033

Studio

$1,226/mo

1 BR

$1,453/mo

2 BR

$1,751/mo

3 BR

$2,136/mo

4 BR

$2,627/mo

Your salary is $0 above the median income in Libertyville.

Salary Comparison by Bedroom

Bars left of the marker line are affordable for Libertyville's median earner. Bars to the right require above-median income.

Affordable Above Median Median Income

What This Means If You're Moving to Libertyville

Libertyville, Illinois stands out as one of the more financially accessible housing markets in the state. The median household income of $161,302 significantly exceeds the $70,040 needed to comfortably afford a 2-bedroom at 30% of gross income — leaving a $91,262 annual surplus for savings, debt repayment, or lifestyle spending.

For remote workers or relocators evaluating Libertyville, a studio at $1,226/month offers an even more aggressive savings rate. Even a 3-bedroom at $2,136/month remains accessible for dual-income households earning above $85,440.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $105,060 would position you well — though many residents in Libertyville manage on less given the favorable rent-to-income dynamics.

Economic Outlook

Local Job Market & Housing Dynamics

Affording rent isn't just about housing prices—it's heavily dependent on local employment opportunities and the strength of the job market in Libertyville, Illinois.

With a total population of 20,555, the city supports an active civilian workforce of 9,981 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $70,040 annual salary. The ratio of employed residents to the total population provides insight into the local economic health and competition for both jobs and housing.

Employed Workforce

9,981

Active civilian employees in Libertyville

Frequently Asked Questions About Renting in Libertyville

What salary do I need to live in Libertyville, Illinois?

To afford a 2-bedroom in Libertyville under the 30% rule, you need an annual salary of at least $70,040. The median household income in Libertyville is $161,302.

Can I afford a 2-bedroom in Libertyville on $161,302?

The affordability verdict for Libertyville is "Affordable". The rent-to-income ratio is 13.0%, meaning median earners have a $91,262 surplus.

What is the average rent in Libertyville compared to median income?

The median gross rent in Libertyville is $1,453/month. With a median household income of $161,302, residents spend approximately 13.0% of their income on rent.

What salary do I need for a studio in Libertyville?

A studio in Libertyville rents for approximately $1,226/month. Under the 30% rule, you need an annual salary of $49,040 to afford this.

Is Libertyville considered an affordable place to live?

Based on the surplus of $91,262 and an affordability verdict of "Affordable", Libertyville is considered a affordable rental market when comparing the required 2-bedroom salary of $70,040 to the local median household income.

How Libertyville Compares

Other cities in Illinois with salary requirements