Cost of Living in Lincoln, IL
Housing
The housing market plays a significant role in determining the cost of living in Lincoln, IL.
- Housing Index: 85.0 / 100
- Median Home Price is: $106,000
- Average Rent (2 BR Apartment): $1150 per month
- Average Rent (2 BR House): $1200 per month
Considering a move to Lincoln, IL? With a housing index of 85.0, the affordability seems promising compared to many urban areas. The median home price is 106000, making homeownership accessible for buyers. Additionally, the average rent for a 2-bedroom apartment is 1150, while a 2-bedroom house averages 1200. This relatively low cost can make it an attractive option for families and young professionals alike. Don't overlook the local amenities and job market which significantly impact both lifestyle and long-term investment.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Lincoln, 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 Lincoln, 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 Lincoln is a financially viable option for your relocation.