Crestwood, IL

Below Avg · 76

Illinois · Population 10,622 · Updated March 2026

$1,300
Median Rent / Month
$68,686
Median Income
$187,700
Median Home Value
$1,050
Owner Costs / Month

Affordability

How far your income goes in Crestwood

22.7%
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

$15,600
Annual Rent
$3,400
State Income Tax
$3,885
Property Tax (est.)

Cost of Living Overview

Crestwood is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 76 (where 100 equals the national median), Crestwood residents can expect to pay median rent of $1,300/month while earning a median household income of $68,686/year.

The median home value in Crestwood, IL is $187,700, with typical monthly owner costs around $1,050 including mortgage, insurance, and taxes. The median rent-to-income ratio of 22.7% 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 Crestwood.

Frequently Asked Questions

Common questions about living costs in Crestwood

What is the cost of living in Crestwood, IL?
The cost of living index in Crestwood, IL is 76 (US average = 100). Median monthly rent is $1,300, median household income is $68,686/year, and the median home value is $187,700.
Is Crestwood, IL affordable?
Yes, Crestwood is more affordable than the national average with a cost index of 76. The rent-to-income ratio is 22.7%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Crestwood, IL?
The median gross rent in Crestwood, IL is $1,300 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $15,600.
What is the median household income in Crestwood?
The median household income in Crestwood, IL is $68,686 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%.