Cost of Living in Springfield, IL
Housing
The housing market plays a significant role in determining the cost of living in Springfield, IL.
- Housing Index: 90.0 / 100
- Median Home Price is: $198000
- Average Rent (2 BR Apartment): $1200 per month
- Average Rent (2 BR House): $1300 per month
When considering a move to Springfield, IL, the housing market offers several noteworthy statistics. With a housing index of 90.0, a median home price of 198000, alongside average rents of 1200 for a 2-bedroom apartment and 1300 for a 2-bedroom house, this area is relatively affordable compared to national averages. This suggests a strong opportunity for both renters and prospective homeowners. Additionally, keep in mind that many neighborhoods in Springfield might bring unique amenities and community features, potentially enhancing your living experience.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Springfield, 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 Springfield, 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 Springfield is a financially viable option for your relocation.