Canton, IL

Very Low · 49

Illinois · Population 13,408 · Updated March 2026

$814
Median Rent / Month
$54,881
Median Income
$106,900
Median Home Value
$777
Owner Costs / Month

Affordability

How far your income goes in Canton

17.8%
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

$9,768
Annual Rent
$2,717
State Income Tax
$2,213
Property Tax (est.)

Cost of Living Overview

Canton is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 49 (where 100 equals the national median), Canton residents can expect to pay median rent of $814/month while earning a median household income of $54,881/year.

The median home value in Canton, IL is $106,900, with typical monthly owner costs around $777 including mortgage, insurance, and taxes. The median rent-to-income ratio of 17.8% 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 Canton.

Frequently Asked Questions

Common questions about living costs in Canton

What is the cost of living in Canton, IL?
The cost of living index in Canton, IL is 49 (US average = 100). Median monthly rent is $814, median household income is $54,881/year, and the median home value is $106,900.
Is Canton, IL affordable?
Yes, Canton is more affordable than the national average with a cost index of 49. The rent-to-income ratio is 17.8%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Canton, IL?
The median gross rent in Canton, IL is $814 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $9,768.
What is the median household income in Canton?
The median household income in Canton, IL is $54,881 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%.