Cost of Living in Montgomery, IL

Housing

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

• Housing Index: 85.0 / 100
• Median Home Price is: $260000
• Average Rent (2 BR Apartment): $1200 per month
• Average Rent (2 BR House): $1245 per month

In Montgomery, IL, the housing market presents a housing index of 85.0, suggesting it is generally affordable compared to national averages. The median home price stands at 260000, making homeownership accessible for many. Renters can expect to pay around 1200 for a 2-bedroom apartment or 1245 for a house, indicating moderate rental prices relative to income levels in the area. Additionally, this balance of prices offers potential buyers and renters a conducive environment with a variety of options. Consider these factors while weighing your move!

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Montgomery, 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 Montgomery, 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: 95.7

Median Income

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

• Median Income: $105240

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 Montgomery, 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.