$2,600 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 Waukegan, IL?
The median rent for a home in Waukegan, IL is $1,937 per month, though prices vary by neighborhood, size, and property type. As of June 2026, townhouses tend to be the most affordable option while condos and single-family homes are currently more expensive.
How much do you need to make to afford rent in Waukegan, IL?
To comfortably afford the median rent in Waukegan, IL, a household needs to earn roughly $77,480 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 $1,937 per month in Waukegan, IL, renters typically need to show $5,811 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 Waukegan, IL?
In Waukegan, IL, the price-to-rent ratio is 10.4, 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 Waukegan, IL are best for renting a home?
The best neighborhood for renting in Waukegan, IL depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include West Waukegan, Southwest Waukegan, South Libertyville and Marquette Highlands, each with its own character and price range.
