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: $260,000
- 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 Montgomery is a financially viable option for your relocation.