Cost of Living in Champaign, IL
Housing
The housing market plays a significant role in determining the cost of living in Champaign, IL.
- Housing Index: 90.0 / 100
- Median Home Price is: $264,000
- Average Rent (2 BR Apartment): $1100 per month
- Average Rent (2 BR House): $1120 per month
Based on the data for Champaign, IL, the housing index stands at 90.0, indicating a favorable market for buyers and renters alike. With a median home price of 264000 and average rents of 1100 for a 2-bedroom apartment and 1120 for a 2-bedroom house, residents are presented with affordable housing options. Additionally, considering trends show continuous urban development in the area, investing in a home in Champaign could not only provide immediate comfort but also long-term financial benefits as the market matures.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Champaign, 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.): $150 per month
Living in Champaign, 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 $150 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 Champaign is a financially viable option for your relocation.