Cost of living in Lakewood, Illinois

Lakewood, Illinois has about 4,707 people. That count is a 2020–2024 Census average, not a headcount from one day.

A typical home is worth about $552,600.

HUD's fair-market rent for a 2-bedroom in McHenry County is $2,011 a month. That is the county number, not an apartment listing in Lakewood. It runs from October 2026 through September 2027.

In the Chicago-Naperville-Elgin, IL-IN metro area, prices sit at 103.6 when the U.S. average is 100. That is a 2024 BEA index.

Illinois taxes wages. A typical combined sales tax is 9.0% as of January 1, 2026. That mix is statewide, not Lakewood's exact store tax.

In July 2026, a typical Illinois home paid 19.22¢ per kilowatt-hour. That is a state average from EIA, not Lakewood's bill.

EIA does not publish a Illinois gasoline price. For the week of October 12, 2026, the Midwest (PADD 2) all-grades price was $4.237 a gallon. At 12,000 miles a year and 25 mpg, the index counts that as $2,033.76 a year. Those miles are our standard, not a Census figure, and every town in Illinois shares this price.