Godfrey, IL

Very Low · 71

Illinois · Population 17,743 · Updated March 2026

$1,111
Median Rent / Month
$92,746
Median Income
$181,400
Median Home Value
$1,124
Owner Costs / Month

Affordability

How far your income goes in Godfrey

14.4%
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

$13,332
Annual Rent
$4,591
State Income Tax
$3,755
Property Tax (est.)

Cost of Living Overview

Godfrey is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 71 (where 100 equals the national median), Godfrey residents can expect to pay median rent of $1,111/month while earning a median household income of $92,746/year.

The median home value in Godfrey, IL is $181,400, with typical monthly owner costs around $1,124 including mortgage, insurance, and taxes. The median rent-to-income ratio of 14.4% 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 Godfrey.

Frequently Asked Questions

Common questions about living costs in Godfrey

What is the cost of living in Godfrey, IL?
The cost of living index in Godfrey, IL is 71 (US average = 100). Median monthly rent is $1,111, median household income is $92,746/year, and the median home value is $181,400.
Is Godfrey, IL affordable?
Yes, Godfrey is more affordable than the national average with a cost index of 71. The rent-to-income ratio is 14.4%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Godfrey, IL?
The median gross rent in Godfrey, IL is $1,111 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $13,332.
What is the median household income in Godfrey?
The median household income in Godfrey, IL is $92,746 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%.