Cost of Living in Morris, IL
Morris cost of living index: 92.3 (below the US average). Median home price: $319,000.
Updated 2026 • Based on 1 local zip code
📍 Some data sourced from nearby metro area
% below the national average
Housing
Data from 1 zip code
Housing costs in Morris, IL based on real market data from 1 local zip code.
When considering a move to Morris, IL, the housing index stands at 82.7, indicating a moderately affordable market. With a median home price of 319000.0, purchasing property might be a sound investment, especially compared to the average rent of 2500.0 for a 2-bedroom apartment or for a house. For long-term financial stability, buying could be more advantageous than renting, particularly as home values historically appreciate. Additionally, it’s wise to factor in local amenities and job opportunities when making your decision.
Last updated: January 2026
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
Living in Morris, IL could entail variable utility costs. Electricity costs sit at $16.15, while natural gas is priced at $16.59 per Thousand Cubic Feet. Expect to budget about $95.2 monthly for other services like water and garbage.
Cost Breakdown by Category
Local Income & Economy in Morris, IL
How far does your money go in Morris? Understanding the relationship between income and cost of living is key to evaluating affordability.
How We Calculate Adjusted Purchasing Power in Morris
The adjusted purchasing power shows what a Morris, IL household income is actually worth after accounting for local prices. We calculate it using the formula: Purchasing Power = Median Income ÷ Cost of Living Index × 100
For Morris, that's $73,909 ÷ 92.3 × 100 = $80,075. This means a household earning the median income in Morris has the equivalent buying power of $80,075 in a city where the cost of living index equals the national baseline of 100.
With a cost of living index of 92.3, Morris is more affordable than the national average. The median household income of $73,909 effectively stretches to $80,075 in purchasing power — meaning everyday expenses like housing, groceries, and utilities cost less here. This makes Morris, IL an attractive destination for budget-conscious families, remote workers, and retirees looking to maximize their income.
Housing is particularly affordable, with a median home price of $319,000. Renters and first-time homebuyers in Morris benefit from lower monthly costs compared to national averages, leaving more room in the budget for savings and quality of life.
💡 Purchasing power is calculated by dividing the local median household income by the cost of living index and multiplying by 100. A result higher than the nominal income means your money goes further; a lower result means local prices erode your earnings. The US baseline cost of living index is 100.
Pros & Cons of Living in Morris
Pros
- • Growing job opportunities
- • Good schools nearby
- • Affordable living costs
- • Low crime rates
- • Friendly community
- • Supportive local businesses
- • Quiet suburban lifestyle
- • Local farmer's markets
- • Family-oriented activities
- • Access to nature trails
Cons
- • Occasional racism reported
- • Less diversity than urban areas
- • Limited nightlife options
- • Limited healthcare facilities
- • Struggles with economic growth
- • Public transport is minimal
- • Seasonal weather extremes
- • Low percentage of college grads
- • Few cultural attractions
- • Dependence on nearby Chicago
💡City Insights
Morris scores 6/10 for affordability, 5/10 for safety, and 5/10 for family-friendliness — an good overall profile.
Frequently Asked Questions
What is the cost of living in Morris, IL? ▼
The cost of living in Morris, IL is 8% lower than the national average, with a cost of living index of 92 (where 100 represents the U.S. average). Housing typically accounts for the largest portion of living expenses. See full cost of living breakdown →
How much does it cost to buy or rent a home in Morris, IL? ▼
In Morris, IL, The median home price is $319,000. requiring approximately $111,214 annual income to afford. Average rent is $2,500/month (requiring ~$100,000/year income). The local median household income is $73,909, making homeownership attainable for typical residents. Explore Morris real estate data →
Is Morris, IL a safe place to live? ▼
Morris, IL is average in terms of safety, with crime rates near the national average. Safety varies significantly by neighborhood. View detailed Morris crime statistics →
What salary do you need to live comfortably in Morris, IL? ▼
To live comfortably in Morris, IL and afford a median-priced home of $319,000, you would typically need a household income of $79,750 to $99,688 per year. The local median household income is $73,909. Renting requires approximately $100,000/year (at $2,500/month). See full affordability analysis →
What are the best neighborhoods in Morris, IL? ▼
The best neighborhoods in Morris, IL depend on your priorities. For families, look for areas near top-rated schools with lower crime rates. For affordability, neighborhoods throughout the city offer good value since the median home price of $319,000 is below the national average.
How are the taxes in Morris, IL? ▼
Tax rates in Morris, IL include state and local components. The cost of living index of 92 suggests a lower overall tax and expense burden cost environment compared to the national average. View detailed Morris tax information →
How does Morris, IL compare to nearby cities? ▼
Morris, IL offers a more affordable alternative to nearby communities. With a cost of living index of 92, median home prices of $319,000, and a crime rate of 0 per 1,000 residents, you can compare these metrics side-by-side. Use the compare feature to evaluate specific cities.
What is the weather like in Morris, IL? ▼
Weather in Morris, IL varies by season. Climate data varies by season. View detailed Morris climate & environment data →
What factors affect cost of living in Morris, IL? ▼
The main factors affecting cost of living in Morris, IL include housing costs (the biggest factor), utilities, groceries, transportation, and healthcare. Local taxes and the overall economic conditions also play a role.
Housing Costs by Zip Code
Detailed housing data across 1 zip code in Morris, IL.
| Zip Code | Median Home Price | Avg Rent | 2BR Rent | For Sale | For Rent |
|---|---|---|---|---|---|
| 60450 | $319,000 | $2,233/mo | $2,500/mo | 93 | 9 |
Explore More About Morris, IL
📅 Last Updated: January 2026
Sources: U.S. Census Bureau (ACS), Bureau of Labor Statistics, Council for Community and Economic Research (C2ER), Zillow, Redfin