Illinois' Most Expensive Communities: Your Complete 2025 Living Cost Breakdown

Want to understand what living in Illinois’ wealthiest suburbs really costs? A comprehensive analysis of the state’s most prestigious neighborhoods reveals that residents in the top 20 most expensive areas shell out over $5,000 monthly just for essentials—groceries, utilities, healthcare, and transportation, before even factoring in entertainment or savings.

The Data Behind the Numbers

Researchers examined 30 Illinois cities with the highest 2025 home values and populations exceeding 2,500 residents, compiling actual living expense data. The methodology accounts for current mortgage payments (assuming a 20% down payment on a 30-year fixed mortgage at 6.30%), plus verified costs for daily necessities across all major categories.

What emerges is striking: the gap between affordable Midwestern living and ultra-premium communities is massive.

Where the Real Wealth Clusters

Kenilworth dominates the rankings with residents facing $138,632 in annual necessity costs—roughly $11,553 monthly. Properties here average $1.9 million, with mortgage payments alone reaching $9,390 per month.

Following closely is Winnetka, where annual necessity expenses hit $130,246, supported by average home values around $1.76 million. Glencoe rounds out the top three at $113,908 annually, while Hinsdale ($98,119/year) and Lake Forest ($92,611/year) maintain their positions as established wealthy enclaves.

Mid-Tier Luxury: The $70K-$85K Annual Cost Zone

The middle section of the ranking includes neighborhoods like South Barrington ($88,808 annually), Oak Brook ($85,087), and Barrington Hills ($84,483). These communities attract affluent families seeking established, prestigious addresses with slightly more accessible entry points than the ultra-premium tier.

Notable mentions include Wilmette, ranked 9th with annual necessity costs of $82,448. For those exploring homes for sale in Wilmette, Illinois, expect average property values around $968,347, translating to monthly mortgage payments of approximately $4,795. Combined with local utilities, healthcare, groceries, and transportation reflecting the area’s higher cost-of-living index, residents budget roughly $6,871 monthly for essentials alone.

The Next Tier Down

Northfield ($80,247 annually), Burr Ridge ($78,196), and Riverwoods ($77,878) offer slightly more moderate—though still premium—living expense profiles. Long Grove ($76,726) and River Forest ($73,761) continue this pattern, while Western Springs ($73,078) and Kildeer ($72,142) maintain their exclusive positioning.

The lower end of Illinois’ most expensive ranking includes Inverness ($71,351), North Barrington ($71,003), Highland Park ($69,882), and Northbrook ($69,744), where annual necessity costs hover just under $70,000—still requiring serious financial commitment but somewhat more accessible than top-tier neighborhoods.

What This Means for Prospective Residents

These figures tell an important story: living in Illinois’ most prestigious communities isn’t just about affording a down payment. The true cost of residency encompasses everything from property taxes reflected in mortgage calculations to groceries and transportation in high-index areas. A $1 million home in one of these communities means you’re committing to $5,800-$11,500 monthly just for the basics.

For anyone genuinely considering relocation to these neighborhoods, financial planning must account for this complete expense picture, not simply mortgage payments alone.