Libertyville, IL
Population 20,493 · Illinois
About Libertyville, IL
Libertyville is a mid-sized city located in Illinois with a population of 20,493 residents according to the latest US Census Bureau American Community Survey data. The median household income is $162,270 per year, which is 116% above the national median of $75,149. The median age of 41.9 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Libertyville features a median home value of $499,300, which is 104% above the national median of $244,900. This places Libertyville in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,537, 32% above the national average of $1,163/month. Of the 7,774 total housing units, 80% are owner-occupied (6,061 units) and 20% are renter-occupied (1,512 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Libertyville shows an unemployment rate of 2.9%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 3.6%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Libertyville have an average one-way commute time of 26 minutes.
Education & Demographics
71.5% of Libertyville residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 4.9% White, 0.8% Hispanic or Latino, 1.8% Black or African American, and 0.8% Asian residents, with 10.1% of the population being foreign-born.
How Libertyville Ranks in Illinois
Cost of Living in Libertyville, IL
Compared to national averages, Libertyville has a median household income of $162,270 (116% above the national median of $75,149). Home values average $499,300, which is 104% above the national median. Monthly rent at $1,537 is 32% above the US average of $1,163. Within Illinois, Libertyville's income is 116% above the state average of $75,072, and home values are 201% above the state median of $165,779.
Why Live in Libertyville, IL?
Libertyville offers a strong local economy with a median household income of $162,270, well above the national average, and a strong job market with an unemployment rate of just 2.9%, and a well-educated community where 71.5% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 3.6%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $499,300. However, Libertyville’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Libertyville has a population of 20,493 with a median age of 41.9 years. Compare Libertyville with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Libertyville
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Frankfort | 20,417 | $153,714 | $461,600 | Compare |
| Grayslake | 20,707 | $113,697 | $293,900 | Compare |
| East Moline | 20,837 | $63,328 | $135,300 | Compare |
| Park Forest | 20,898 | $62,305 | $106,200 | Compare |
| Dolton | 20,979 | $58,706 | $140,500 | Compare |
| South Holland | 21,016 | $87,378 | $201,200 | Compare |
| Mokena | 19,906 | $129,017 | $377,100 | Compare |
| Harvey | 19,831 | $41,091 | $86,100 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Libertyville With Other Cities
Frequently Asked Questions about Libertyville
What is the population of Libertyville, IL?
The population of Libertyville, IL is 20,493 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Illinois.
What is the median household income in Libertyville?
The median household income in Libertyville, IL is $162,270 per year, which is 116% above the national median of $75,149.
What is the median home value in Libertyville?
The median home value in Libertyville, IL is $499,300, which is 104% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Libertyville?
The median monthly rent in Libertyville, IL is $1,537, which is 32% above the national average of $1,163/month.
What is the unemployment rate in Libertyville?
The unemployment rate in Libertyville, IL is 2.9%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Libertyville, IL a good place to live?
Libertyville offers above-average incomes, a competitive housing market, and a strong job market. With a population of 20,493 and a median age of 41.9, the city appeals to a broad range of residents.
How educated is Libertyville, IL?
71.5% of residents in Libertyville aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Libertyville?
Key cost-of-living indicators for Libertyville, IL: median home value is $499,300 (104% above national), median rent is $1,537/month, and median household income is $162,270. The home-value-to-income ratio is 3.1x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Libertyville?
The poverty rate in Libertyville, IL is 3.6%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Libertyville, IL?
Libertyville's population is 4.9% White, 0.8% Hispanic or Latino, 1.8% Black or African American, 0.8% Asian, and 1.2% two or more races. 10.1% of residents are foreign-born.