Oswego, IL

Above Avg · 122

Illinois · Population 35,463 · Updated March 2026

$1,823
Median Rent / Month
$119,881
Median Income
$319,000
Median Home Value
$2,018
Owner Costs / Month

Affordability

How far your income goes in Oswego

18.2%
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

$21,876
Annual Rent
$5,934
State Income Tax
$6,603
Property Tax (est.)

Cost of Living Overview

Oswego has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 122 (where 100 equals the national median), Oswego residents can expect to pay median rent of $1,823/month while earning a median household income of $119,881/year.

The median home value in Oswego, IL is $319,000, with typical monthly owner costs around $2,018 including mortgage, insurance, and taxes. The median rent-to-income ratio of 18.2% 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 Oswego.

Frequently Asked Questions

Common questions about living costs in Oswego

What is the cost of living in Oswego, IL?
The cost of living index in Oswego, IL is 122 (US average = 100). Median monthly rent is $1,823, median household income is $119,881/year, and the median home value is $319,000.
Is Oswego, IL affordable?
No, Oswego is more expensive than the national average with a cost index of 122. The rent-to-income ratio is 18.2%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Oswego, IL?
The median gross rent in Oswego, IL is $1,823 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $21,876.
What is the median household income in Oswego?
The median household income in Oswego, IL is $119,881 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%.