15 Most Expensive Cities in Illinois [Update 2024]

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Did you know that Illinois ratified the Thirteenth Amendment, officially abolishing slavery, before any other state in the Union? That explains why Illinois has such a wide range of ethnically and culturally varied communities.

Numerous cities in the state have excellent public institutions, good living standards, and are strong advocates of diversity, civil rights, and social justice. The problem is that the most costly cities in Illinois tend to be the ones where these traditions are kept alive.

Below are the most expensive cities in Illinois.

1. Hinsdale(Average Home Price: $1.42 million)

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Hinsdale is one of the Most Expensive Cities in Illinois

The city of Hinsdale is located in Illinois’ Cook and DuPage counties, and has a population of 16,816. Situated just 20 miles away from Downtown Chicago, the city has a great geographical location.

With an average home price of $1.42 million, Hinsdale is the most expensive city in Illinois to live in, in terms of average home prices. It offers one of the highest standards of living in Illinois, and has lower crime rates than the state average.

2. Lake Forest(Average Home Price: $1.39 million)

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Lake Forest

Lake Forest is one of the most beautiful cities in Illinois with a population of just under 20,000. Located in Lake County, the city is home to beautiful lakes and parks. Moreover, it is one of the most expensive cities in Illinois to live in with an average home price of $1.39 million. It is also one of the wealthiest cities in Illinois with a median household income of $189,118.

3. Burr Ridge(Average Home Price: $973,186)

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Burr Ridge is one of the richest cities in Illinois and is well-known regionally for its grand, opulent homes and extravagant lifestyles. The average price of homes in Burr Ridge is just below one million, $973,186 to be exact. The median household income in Burr Ridge is one of the highest in Illinois as well, at $151,900.

These are the most populated cities in Illinois.

4. Wilmette(Average Home Price: $891,046)

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Wilmette

Situated along Lake Michigan, Wilmette is a city of more than 27,000 residents. The city is known for being incredibly expensive, with the median home price being $891,046. However, the city also has a median income of $161,745 and an unemployment rate of around 2.6%, two aspects that will easily attract people to this city.

5. Highland Park(Average Home Price: $707,025)

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Highland Park is a suburban city in Illinois that has a sizeable population of around 30,000. The city has beautiful landmarks and great institutions along with high living standards, making it one of the best cities in Illinois to live in. The average price of houses in Highland Park is $707,025 and the median income is $147,067.

6. Northfield(Average Home Price: $700,000)

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Northfield is one of the most expensive cities in Illinois to live in with an average home price of around $700,000. It is a small suburban city with barely over 5,000 residents, most of whom are quite wealthy. The median income in Northfield is $143,661, making it one of the wealthiest cities on this list.

These are the most expensive houses in Illinois.

7. Inverness(Average Home Price: $648,200)

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One of the most uniquely named cities in the United States, Inverness is one of Illinois’ most expensive cities. Not only is Inverness super expensive to live in, it is also one of the wealthiest cities in Illinois with a median income of around $185,000.

The average price of homes in Inverness is $648,200, one of the highest in the state. It is a small suburban city with a population of just over 8,000.

8. Lincolnshire(Average Home Price: $556,900)

Lincolnshire is a suburban city in Illinois with a small population of around 8,000. It is the most expensive city in the state to live in, in terms of the ratio of average home prices and median income. The average home price in Lincolnshire is $556,900, while the median income is $130,000, which means the price of houses here is almost 5 times its average income.

9. Evanston(Average Home Price: $409,900)

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Evanston is one of the most populated cities on this list with a population of around 74,000. This city has a developed commercial industry that lures many people here. However, with average house prices of $409,900, Evanston is incredibly expensive to live in. Also, the median income of this city is $82,335.

10. Lincolnwood(Average Home Price: $394,900)

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Lincolnwood is another small suburban city in Illinois with very high standards and costs of living. The population of Lincolnwood is just over 12,000. The median income of this city is around $94,000, while the average home price is $394,900, making its average income to average house price almost 4 times lower.

11. Highwood(Average Home Price: $383,300)

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Highwood is a small and less-known city in Illinois with a very low average annual income of $74,875. On top of this, the median price of houses in Highwood is 4 times that of the median income. The median home price in Highwood is $383,300, which makes it very hard for residents to shift to this place.

12. Morton Grove(Average Home Price: $326,100)

Morton Grove is situated in Cook County and has a generous population of just over 25,000. This median-sized city in this state is also one of the most expensive cities in Illinois to live in. The median price of homes in Morton Grove is $326,100, and the median income of Morton Grove is $87,000.

13. Norridge(Average Home Price: $308,300)

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Norridge has a modest population of just above 14,000. The cost of living in Norridge is significantly higher than the average in Illinois. The median income of Norridge is $78,300 and the average price of houses is $308,300. Also, the living standards here are moderate and expenses are quite high as well.

14. Niles(Average Home Price: $289,800)

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Niles is a renowned city in Illinois that is best-known for its tranquil surroundings. The city of 29,000 residents is a quite city to live in, but also a very expensive one as well. Niles has a median income of around $63,000, which is one of the lowest on this list. Despite average house prices of $289,800, Niles still makes this list due to its low median income.

15. Elmwood Park(Average Home Price: $267,500)

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Elmwood Park has a decent population of around 25,000, a huge portion of which are of Italian-American origins. Additionally, the city also has small Hispanic sections within their population as well. The median home price in Elmwood Park is $267,500 and the median income of this city is $63,312.

In terms of purely home prices, Hinsdale and Lake Forest are easily the most expensive cities in Illinois. However, they also have very high median income, low unemployment rates and great living standards. On the other side, Lincolnshire has the highest average home price to median income ratio, making it the toughest one to settle down in.

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