Cost of Living in Winthrop Harbor, IL

With a cost of living index of 94, Winthrop Harbor, IL is slightly more affordable than average. Living here is 6% cheaper than the national average and 14% above the Illinois state average of 80. Winthrop Harbor is a smaller community of 6,663 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Winthrop Harbor's cost of living. The median monthly rent is $1,262 (4% below the US median of $1,319), and the median home value sits at $238,800 (22% below the national median of $304,900). At current prices, the median home costs roughly 2.5x the median household income — well within traditional affordability guidelines.

The median household income in Winthrop Harbor is $94,221, which is 25% higher than the national median of $75,149. Residents spend roughly 16% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Winthrop Harbor. The area sees an average annual temperature of 48.3°F, with summers averaging 69°F and winters around 26°F. Annual rainfall totals 35.3 inches spread over roughly 129 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Everyday prices in the Chicago-Naperville-Elgin, IL-IN (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 5 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.