Channahon, IL

Above Avg · 116

Illinois · Population 13,854 · Updated March 2026

$1,718
Median Rent / Month
$121,458
Median Income
$298,000
Median Home Value
$1,955
Owner Costs / Month

Affordability

How far your income goes in Channahon

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

$20,616
Annual Rent
$6,012
State Income Tax
$6,169
Property Tax (est.)

Cost of Living Overview

Channahon is more expensive than the national average. Higher housing costs are typically the primary driver. With a cost index of 116 (where 100 equals the national median), Channahon residents can expect to pay median rent of $1,718/month while earning a median household income of $121,458/year.

The median home value in Channahon, IL is $298,000, with typical monthly owner costs around $1,955 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 Channahon.

Frequently Asked Questions

Common questions about living costs in Channahon

What is the cost of living in Channahon, IL?
The cost of living index in Channahon, IL is 116 (US average = 100). Median monthly rent is $1,718, median household income is $121,458/year, and the median home value is $298,000.
Is Channahon, IL affordable?
No, Channahon is more expensive than the national average with a cost index of 116. The rent-to-income ratio is 17.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Channahon, IL?
The median gross rent in Channahon, IL is $1,718 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $20,616.
What is the median household income in Channahon?
The median household income in Channahon, IL is $121,458 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%.