Markham, IL

Below Avg · 84

Illinois · Population 11,434 · Updated March 2026

$1,689
Median Rent / Month
$52,364
Median Income
$119,500
Median Home Value
$1,298
Owner Costs / Month

Affordability

How far your income goes in Markham

38.7%
Rent-to-Income Ratio
Burdened
Rent takes more than 35% of median income — considered cost-burdened.

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

$20,268
Annual Rent
$2,592
State Income Tax
$2,474
Property Tax (est.)

Cost of Living Overview

Markham is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 84 (where 100 equals the national median), Markham residents can expect to pay median rent of $1,689/month while earning a median household income of $52,364/year.

The median home value in Markham, IL is $119,500, with typical monthly owner costs around $1,298 including mortgage, insurance, and taxes. The 38.7% rent-to-income ratio indicates significant housing cost burden. Residents spend well over a third of their income on rent alone.

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 Markham.

Frequently Asked Questions

Common questions about living costs in Markham

What is the cost of living in Markham, IL?
The cost of living index in Markham, IL is 84 (US average = 100). Median monthly rent is $1,689, median household income is $52,364/year, and the median home value is $119,500.
Is Markham, IL affordable?
Yes, Markham is more affordable than the national average with a cost index of 84. The rent-to-income ratio is 38.7%—above the 30%% affordability threshold.
What is the average rent in Markham, IL?
The median gross rent in Markham, IL is $1,689 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $20,268.
What is the median household income in Markham?
The median household income in Markham, IL is $52,364 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%.