Champaign, IL

Very Low · 74

Illinois · Population 88,822 · Updated March 2026

$1,103
Median Rent / Month
$57,544
Median Income
$199,700
Median Home Value
$1,150
Owner Costs / Month

Affordability

How far your income goes in Champaign

23.0%
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

$13,236
Annual Rent
$2,848
State Income Tax
$4,134
Property Tax (est.)

Cost of Living Overview

Champaign is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 74 (where 100 equals the national median), Champaign residents can expect to pay median rent of $1,103/month while earning a median household income of $57,544/year.

The median home value in Champaign, IL is $199,700, with typical monthly owner costs around $1,150 including mortgage, insurance, and taxes. The median rent-to-income ratio of 23.0% 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 Champaign.

Frequently Asked Questions

Common questions about living costs in Champaign

What is the cost of living in Champaign, IL?
The cost of living index in Champaign, IL is 74 (US average = 100). Median monthly rent is $1,103, median household income is $57,544/year, and the median home value is $199,700.
Is Champaign, IL affordable?
Yes, Champaign is more affordable than the national average with a cost index of 74. The rent-to-income ratio is 23.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Champaign, IL?
The median gross rent in Champaign, IL is $1,103 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $13,236.
What is the median household income in Champaign?
The median household income in Champaign, IL is $57,544 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%.