Harvey, IL

Very Low · 53

Illinois · Population 19,831 · Updated March 2026

$968
Median Rent / Month
$41,091
Median Income
$86,100
Median Home Value
$935
Owner Costs / Month

Affordability

How far your income goes in Harvey

28.3%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

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

$11,616
Annual Rent
$2,034
State Income Tax
$1,782
Property Tax (est.)

Cost of Living Overview

Harvey is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 53 (where 100 equals the national median), Harvey residents can expect to pay median rent of $968/month while earning a median household income of $41,091/year.

The median home value in Harvey, IL is $86,100, with typical monthly owner costs around $935 including mortgage, insurance, and taxes. With a rent-to-income ratio of 28.3%, Harvey falls within the generally affordable range, though it's approaching the 30% burden threshold.

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 Harvey.

Frequently Asked Questions

Common questions about living costs in Harvey

What is the cost of living in Harvey, IL?
The cost of living index in Harvey, IL is 53 (US average = 100). Median monthly rent is $968, median household income is $41,091/year, and the median home value is $86,100.
Is Harvey, IL affordable?
Yes, Harvey is more affordable than the national average with a cost index of 53. The rent-to-income ratio is 28.3%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Harvey, IL?
The median gross rent in Harvey, IL is $968 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $11,616.
What is the median household income in Harvey?
The median household income in Harvey, IL is $41,091 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%.