Cost of Living in Belvidere, IL
Housing
The housing market plays a significant role in determining the cost of living in Belvidere, IL.
- Housing Index: 90.0 / 100
- Median Home Price is: $212,000
- Average Rent (2 BR Apartment): $1200 per month
- Average Rent (2 BR House): $1235 per month
In evaluating a potential move to Belvidere, IL, with a population of , you will find a median age of years that reflects a balanced mix of young professionals and families. With a median income of $, it's clear that residents have some financial stability, though the 12% poverty level suggests economic challenges for a segment of the community. The 8.4% unemployment rate could also impact job seekers. The presence of married families representing 33% indicates a family-oriented environment, which may be appealing for those looking to settle down. Consider these factors in your decision-making process.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Belvidere, IL.
- Electricity Price: $16.15 USD (median by state)
- Natural Gas Price: $16.59 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $200 per month
Living in Belvidere, IL could entail higher utility costs. Electricity costs sit at $16.15, while natural gas is priced at $16.59 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $200 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Belvidere is a financially viable option for your relocation.