Deerfield, IL

Very High · 185

Illinois · Population 19,185 · Updated March 2026

$2,345
Median Rent / Month
$189,705
Median Income
$608,600
Median Home Value
$2,919
Owner Costs / Month

Affordability

How far your income goes in Deerfield

14.8%
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

$28,140
Annual Rent
$9,390
State Income Tax
$12,598
Property Tax (est.)

Cost of Living Overview

Deerfield has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 185 (where 100 equals the national median), Deerfield residents can expect to pay median rent of $2,345/month while earning a median household income of $189,705/year.

The median home value in Deerfield, IL is $608,600, with typical monthly owner costs around $2,919 including mortgage, insurance, and taxes. The median rent-to-income ratio of 14.8% 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 Deerfield.

Frequently Asked Questions

Common questions about living costs in Deerfield

What is the cost of living in Deerfield, IL?
The cost of living index in Deerfield, IL is 185 (US average = 100). Median monthly rent is $2,345, median household income is $189,705/year, and the median home value is $608,600.
Is Deerfield, IL affordable?
No, Deerfield is more expensive than the national average with a cost index of 185. The rent-to-income ratio is 14.8%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Deerfield, IL?
The median gross rent in Deerfield, IL is $2,345 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $28,140.
What is the median household income in Deerfield?
The median household income in Deerfield, IL is $189,705 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%.