Cost of Living in Danville, IL

Housing

The housing market plays a significant role in determining the cost of living in Danville, IL.

• Housing Index: 90.0 / 100
• Median Home Price is: $115000
• Average Rent (2 BR Apartment): $1200 per month
• Average Rent (2 BR House): $1300 per month

Analyzing the housing data for Danville, IL, we see a housing index of 90.0, indicating moderate affordability compared to the national average. With a median home price of 115000, purchasing might be a viable option for many residents. Additionally, average rents are relatively accessible—1200 for a 2-bedroom apartment and 1300 for a 2-bedroom house. This balance suggests that whether you prefer renting or buying, options remain feasible for various budgets. It’s essential to consider local amenities, job opportunities, and lifestyle needs before making a decision.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Danville, 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.): $250 per month

Living in Danville, 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 250 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: 95.3

Median Income

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

• Median Income: $42424

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 Danville, 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.