$2,560 Per Month
- 4 Beds
- 2 Baths
- 2,275 Sq Ft
- House for Rent
903 S Mcalister Ave, Waukegan, IL 60085
903 S Mcalister Ave, Waukegan, IL 60085
Frequently Asked Questions
How much does it cost to rent a home in North Chicago, IL?
The median rent for a home in North Chicago, IL is $1,825 per month, though prices vary by neighborhood, size, and property type. As of June 2026, condos tend to be the most affordable option while single-family homes and townhouses are currently more expensive.
How much do you need to make to afford rent in North Chicago, IL?
To comfortably afford the median rent in North Chicago, IL, a household needs to earn roughly $73,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,825 per month in North Chicago, IL, renters typically need to show $5,475 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in North Chicago, IL?
In North Chicago, IL, the price-to-rent ratio is 9.9, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in North Chicago, IL are best for renting a home?
The best neighborhood for renting in North Chicago, IL depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Southwest Waukegan, West Waukegan, South Libertyville, Cambridge Chase and The Links at Midlane, each with its own character and price range.
