Banner, IL vs Lakewood Shores, IL

The cost of living difference between Banner, IL and Lakewood Shores, IL is dramatic. Banner is 31.6% cheaper than Lakewood Shores, a gap that translates to thousands of dollars per year in household expenses. Banner has a cost index of 62 while Lakewood Shores sits at 91, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Banner is $708/month compared to $1,339/month in Lakewood Shores — a 47% difference. Home values follow the same pattern: Banner is more affordable at $90,000 median vs $181,300.

Median household income in Banner is $36,250 compared to $76,500 in Lakewood Shores (-52.6%). While Lakewood Shores is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Banner spend roughly 23.4% of their income on rent, more than the 21% in Lakewood Shores.