Addison, IL

Average · 94

Illinois · Population 35,470 · Updated March 2026

$1,238
Median Rent / Month
$87,587
Median Income
$318,000
Median Home Value
$1,332
Owner Costs / Month

Affordability

How far your income goes in Addison

17.0%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Illinois

State-level tax rates that affect your costs

4.95%
Income Tax (Top Rate)
6.25%
Sales Tax
2.07%
Property Tax Rate

Estimated Annual Costs

$14,856
Annual Rent
$4,336
State Income Tax
$6,583
Property Tax (est.)

Cost of Living Overview

Addison offers a below-average cost of living, giving residents more purchasing power compared to many US cities. With a cost index of 94 (where 100 equals the national median), Addison residents can expect to pay median rent of $1,238/month while earning a median household income of $87,587/year.

The median home value in Addison, IL is $318,000, with typical monthly owner costs around $1,332 including mortgage, insurance, and taxes. The median rent-to-income ratio of 17.0% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Illinois has a moderate income tax rate of 4.95%. Combined with a 6.25% sales tax rate and 2.07% effective property tax rate, the overall tax environment is a factor in the total cost of living in Addison.

Frequently Asked Questions

Common questions about living costs in Addison

What is the cost of living in Addison, IL?
The cost of living index in Addison, IL is 94 (US average = 100). Median monthly rent is $1,238, median household income is $87,587/year, and the median home value is $318,000.
Is Addison, IL affordable?
Yes, Addison is more affordable than the national average with a cost index of 94. The rent-to-income ratio is 17.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Addison, IL?
The median gross rent in Addison, IL is $1,238 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $14,856.
What is the median household income in Addison?
The median household income in Addison, IL is $87,587 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Illinois?
Illinois has a top income tax rate of 4.95%, a sales tax of 6.25%, and an effective property tax rate of 2.07%.