Burbank, IL

Below Avg · 88

Illinois · Population 28,822 · Updated March 2026

$1,241
Median Rent / Month
$83,975
Median Income
$258,900
Median Home Value
$1,349
Owner Costs / Month

Affordability

How far your income goes in Burbank

17.7%
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

$14,892
Annual Rent
$4,157
State Income Tax
$5,359
Property Tax (est.)

Cost of Living Overview

Burbank offers a below-average cost of living, giving residents more purchasing power compared to many US cities. With a cost index of 88 (where 100 equals the national median), Burbank residents can expect to pay median rent of $1,241/month while earning a median household income of $83,975/year.

The median home value in Burbank, IL is $258,900, with typical monthly owner costs around $1,349 including mortgage, insurance, and taxes. The median rent-to-income ratio of 17.7% 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 Burbank.

Frequently Asked Questions

Common questions about living costs in Burbank

What is the cost of living in Burbank, IL?
The cost of living index in Burbank, IL is 88 (US average = 100). Median monthly rent is $1,241, median household income is $83,975/year, and the median home value is $258,900.
Is Burbank, IL affordable?
Yes, Burbank is more affordable than the national average with a cost index of 88. The rent-to-income ratio is 17.7%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Burbank, IL?
The median gross rent in Burbank, IL is $1,241 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $14,892.
What is the median household income in Burbank?
The median household income in Burbank, IL is $83,975 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%.