Oswego, IL vs Waukegan, IL

The cost of living difference between Oswego, IL and Waukegan, IL is dramatic. Waukegan is 36.9% cheaper than Oswego, a gap that translates to thousands of dollars per year in household expenses. Oswego has a cost index of 117 while Waukegan sits at 86, 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 Oswego is $1,823/month compared to $1,163/month in Waukegan — a 57% difference. Home values follow the same pattern: Waukegan is more affordable at $177,600 median vs $319,000.

Median household income in Oswego is $119,881 compared to $70,578 in Waukegan (+69.9%). While Oswego is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Oswego spend roughly 18.2% of their income on rent, less than the 19.8% in Waukegan.

Climate-wise, both cities share similar average temperatures (49.4°F vs 48.3°F). Waukegan receives more rainfall at 35.3" per year compared to 33.8" in Oswego.