Geneva, IL

Very High · 133

Illinois · Population 21,299 · Updated March 2026

$1,805
Median Rent / Month
$136,621
Median Income
$415,800
Median Home Value
$2,028
Owner Costs / Month

Affordability

How far your income goes in Geneva

15.9%
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

$21,660
Annual Rent
$6,763
State Income Tax
$8,607
Property Tax (est.)

Cost of Living Overview

Geneva has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 133 (where 100 equals the national median), Geneva residents can expect to pay median rent of $1,805/month while earning a median household income of $136,621/year.

The median home value in Geneva, IL is $415,800, with typical monthly owner costs around $2,028 including mortgage, insurance, and taxes. The median rent-to-income ratio of 15.9% 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 Geneva.

Frequently Asked Questions

Common questions about living costs in Geneva

What is the cost of living in Geneva, IL?
The cost of living index in Geneva, IL is 133 (US average = 100). Median monthly rent is $1,805, median household income is $136,621/year, and the median home value is $415,800.
Is Geneva, IL affordable?
No, Geneva is more expensive than the national average with a cost index of 133. The rent-to-income ratio is 15.9%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Geneva, IL?
The median gross rent in Geneva, IL is $1,805 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $21,660.
What is the median household income in Geneva?
The median household income in Geneva, IL is $136,621 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%.