The median home price in Illinois is $249,229, which has increased by 5.1% since the last year. The Illinois housing market has witnessed a 11.5% year-over-year decline in the number of homes listed. With only a 3-month supply left, the tight inventory is expected to drive an increase in the median sale price.
As per our research, home prices are relatively higher in the north shore suburbs areas near Naperville, IL. On the other hand, as you move towards the south of the Prairie State, like Carbondale, you can find cheaper housing options.
4 Reasons to live in Illinois 🌆
- Cheaper Houses: The median home sale price in Illinois is ~$250K but you can get houses between $65K and $130K in cities like Hoopeston, Decatur, and Granite City. This can save you thousands while enjoying better earning opportunities in the Prairie State.
- Tax Benefits: The personal exemption allowance for the 2023 tax year in Illinois is $2,425.
- Affordable Healthcare: Healthcare costs in cities that are listed below are up to 13% lower than the national average.
- Cheaper Rentals: The rent prices of these cities are lower than national average. You can save up to $700 per month in rent.
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Cheapest Places to Live in Illinois in 2024
This list provides insights into the average household income, median listing price, population, unemployment rate, and poverty rate of the cities.
| City | Median Household Income | Median Home Value | Population | Unemployment Rate | Poverty Rate |
|---|---|---|---|---|---|
| Hoopeston | $43,403 | $66,550 | 5,210 | 6.9% | 29.29% |
| Decatur | $49,039 | $85,082 | 69,097 | 6.7% | 19.5% |
| Granite City | $58,681 | $99,309 | 27,121 | 4.9% | 18.6% |
| Freeport | $44,658 | $102,301 | 23,413 | 5.0% | 18.6% |
| Clinton | $51,270 | $117,580 | 6,882 | 4.9% | 15.8% |
| Charleston | $47,533 | $134,092 | 17,119 | 4.1% | 26.5% |
| Belleville | $60,573 | $130,683 | 41,295 | 5.2% | 14.7% |
7 Cheapest Places to Live in IL
The annual population growth of 0.9% between 2019 and 2020 is reflective of people’s intention to move to Illinois. If you’re considering shifting to the Prairie State, here are some cities that offer affordable living options:
1. Hoopeston
| 🟢 Cost of Living Compared to National Average | 16%⬇️ |
| 🏡 Median Home Price | $66,550 |
| 💲 Median Rent | $529 |
| 🌅 Known For | The Lorraine Theatre |
Hoopeston is an affordable place to live in Illinois. Its median house rent ranges from $425 – $1,300. It also offers affordable housing which is 43% lower than the national average.
Hoopeston stands out as a budget-friendly city with beautiful gardens and parks. However, recently, the median household income saw a 18.8% growth. This indicates an increase in job opportunities and financial stability for the city’s residents.
» Homes for Sale in Hoopeston, IL: Find your dream home in this city.
2. Decatur
| 🟢 Cost of Living Compared to National Average | 15%⬇️ |
| 🏡 Median Home Price | $85,082 |
| 💲 Median Rent | $865 |
| 🏞️ Known For | Industrial Hub |
Decatur is one of the most budget-friendly rental destinations in Illinois with an average home rent ranging from $375 – $3,000. It also offers affordable healthcare, which is 16% lower than the national average.
Decatur nestled along the Sangamon River and Lake Decatur, offers scenic views and outdoor activities. Additionally, it hosts esteemed educational institutions such as Lake Land College and Parkland College, ensuring quality education for all residents.
» Homes for Sale in Decatur, IL: Browse thousands of property listings in the Soybean Capital of the World.
3. Granite City
| 🟢 Cost of Living Compared to National Average | 11%⬇️ |
| 🏡 Median Home Price | $99,309 |
| 💲 Median Rent | $825 |
| 🏖️ Known For | Steel Industry |
With rental costs below the national average, Granite City stands as one of the most affordable cities to live in Illinois. The house rent price is between $550 – $1,585.
You can explore diverse culinary experiences with a range of dining options in the industrial city. It includes local eateries like Granite City Food & Brewery that offer craft beer and scratch food.
» Homes for Sale in Granite City, IL: View all the properties for sale in this city.
4. Freeport
| 🟢 Cost of Living Compared to National Average | 12%⬇️ |
| 🏡 Median Home Price | $102,301 |
| 💲 Median Rent | $675 |
| 🏖️ Known For | International Mining Company |
Freeport offers budget-friendly living with a median rent that is $1,325 lower than the national median. Moreover, the transportation costs are 5.1% below the national average in the city.
Freeport boasts community-friendly attractions like Oakdale Nature Preserve and Luecke’s Antique Mall, enriching its vibrant local culture. Residents can also enjoy senior living amenities for a comfortable lifestyle.
» Homes for Sale in Freeport, IL: Browse through thousands of affordable properties.
5. Clinton
| 🟢 Cost of Living Compared to National Average | 3.1%⬇️ |
| 🏡 Median Home Price | $117,580 |
| 💲 Median Rent | $675 |
| 🎨 Known For | Agriculture and Mining |
The largest city in DeWitt County, Clinton’s cost of living is 3.1% lower than the national average. The average food expenses are 2.6% below the national average.
Clinton’s affordable food, health, housing, and transportation facilities make the city one of the cheapest places to live in the US.
» Homes for Sale in Clinton, IL: Browse through thousands of properties in this city.
6. Charleston
| 🟢 Cost of Living Compared to National Average | 12%⬇️ |
| 🏡 Median Home Price | $134,092 |
| 💲 Median Rent | $910 |
| 🏫 Known For | Lincoln Log Cabin State Historic Site |
The house rent in Charleston is between $399 – $2,880. With an average household income of $47,533, you can comfortably live in this city.
Charleston is a compelling real estate choice for outdoor enthusiasts seeking affordable living in Illinois. The city features cultural and historical sites like the Lincoln Log Cabin State Historic Site, adding to its charm and appeal.
» Homes for Sale in Charleston, IL: Find a home in one of the cheapest places to live in Illinois.
7. Belleville
| 🟢 Cost of Living Compared to National Average | 18%⬇️ |
| 🏡 Median Home Price | $130,683 |
| 💲 Median Rent | $1,030 |
| 🖼️ Known For | Cathedral of St. Peter |
Belleville is one of the best places to live in Illinois, with a year-over-year median home price increase of 4% in January 2024. The monthly cost of food for an individual amounts to $562, making it one of the most budget-friendly options across the state.
Belleville provides diverse educational choices with institutions like Southwestern Illinois College and Lindenwood University-Belleville. This makes the city an attractive destination for families and students looking for educational opportunities.
» Homes for Sale in Belleville, IL: Get yourself a home in this vibrant city.
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Bottom Line
The cost of living in Illinois is 9% higher than the national average. Nevertheless, it is still home to some of the most expensive cities in America. However, if you want to shift to Illinois, you can find affordable housing in cities like Hoopeston, Decatur, and Granite City.
Cities like Charleston and Belleville have a slightly expensive cost of living but provide better job opportunities. You must research the city’s home prices and living costs before relocating.
Find Homes for Sale in IL Under Your Specific Budget
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Research Methodology
We’ve created this list by considering factors such as cost of living, median home price, and rental price range. We have also accounted for the population, median household income, poverty rate, and unemployment rate in these cities.
To compile this list of the cheapest areas to live in Illinois, we have drawn data from the Economic Research Institute, World Population Review, Rent Cafe, and Zillow, Best Places.
FAQs
What is the cheapest place to live in Illinois?
The cheapest place to live in Illinois is Hoopeston. It offers affordable utilities, which is 1.8% lower than the national average.
Where is the best place to live in Illinois?
The best place to live in Illinois is Chicago, followed by Springfield, Naperville, Clarendon Hills, Rockford, Schaumburg, and Peoria.
What makes Illinois the cheapest place to live in?
No, it is not. Its average Illinois home value is $249,229. However, it is cheaper than other expensive states like Hawaii and Massachusetts.
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