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: $264000
• 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 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: 95.2

Median Income

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

• Median Income: $58273

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 Champaign, 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.