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: $212000
• 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 Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 95.0

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $59216

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Belvidere, IL, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.