What it actually costs to live in Illinois.
Illinois’s cost-of-living index sits at 104 on the MERIC composite (national average = 100), ranking #22 of 51 jurisdictions for cost. That means a standard basket of goods + services in Illinois costs about 4% MORE than the US average. Median home price: $315,000. Population-weighted median rent across metros: $2,165/mo.
Illinois cost components
| Component | Illinois | National avg |
|---|---|---|
| COL index (basket) | 104 | 100 |
| Median home price | $315,000 | ~$420,000 |
| Median rent (pop-weighted) | $2,165/mo | ~$1,850/mo |
| Commute cost (proxy) | $240/mo | ~$185/mo |
Commute cost = avg metro commute minutes × $0.18/min × 2 trips × 22 work days. Refined BLS Consumer Expenditure Survey integration tracked for v1.
How Illinois compares
Of all 51 US jurisdictions, Illinois ranks #22 for cost. That places Illinois in the middle — moderate cost without being a particular outlier. For the live state-vs-state heat map see the interactive cost-of-living map.
Illinois metros — city-level cost
State averages hide major intra-state variation. Chicago has very different housing dynamics than smaller Illinois metros. Click any city for the full home affordability breakdown.
- ChicagoCOL 114 · home $315,000rent $2,288/mo →
- RockfordCOL 83 · home $145,000rent $780/mo →
- PeoriaCOL 84 · home $155,000rent $800/mo →
- NapervilleCOL 108 · home $485,000rent $1,800/mo →
- JolietCOL 92 · home $240,000rent $1,250/mo →
More Illinois metros coming as we expand city coverage.
Illinois cost of living — common questions
What is the cost of living in Illinois?
Illinois's MERIC cost-of-living index is 104 (national average = 100). That means a typical basket of goods + services in Illinois costs about 4% more than the US average.
What is the median home price in Illinois?
Illinois's state-level median home price is approximately $315,000 (Census ACS 2024). Metros vary significantly — see the top-metro list below for city-level breakdowns.
What is the median rent in Illinois?
Illinois's population-weighted median rent across metros in our dataset is approximately $2,165/mo. Major-metro rents typically run 30-80% above this state-level average.
Are there any Illinois-specific cost-of-living quirks?
Chicago "transfer stamp" combined city + county + state = $7.50 per $1k for buyer + $3.00/$1k seller; on a $400k home that's $4,200 in transfer taxes at closing.
Reviewed by CalcFi Editorial · COL source: MERIC quarterly; home + rent: Census ACS 2024. Last verified 2026-04-19.