Plano, IL

Average · 98

Illinois · Population 11,626 · Updated March 2026

$1,590
Median Rent / Month
$83,102
Median Income
$221,100
Median Home Value
$1,607
Owner Costs / Month

Affordability

How far your income goes in Plano

23.0%
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

$19,080
Annual Rent
$4,114
State Income Tax
$4,577
Property Tax (est.)

Cost of Living Overview

Plano has a cost of living close to the national average, offering a balanced mix of expenses and amenities. With a cost index of 98 (where 100 equals the national median), Plano residents can expect to pay median rent of $1,590/month while earning a median household income of $83,102/year.

The median home value in Plano, IL is $221,100, with typical monthly owner costs around $1,607 including mortgage, insurance, and taxes. The median rent-to-income ratio of 23.0% 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 Plano.

Frequently Asked Questions

Common questions about living costs in Plano

What is the cost of living in Plano, IL?
The cost of living index in Plano, IL is 98 (US average = 100). Median monthly rent is $1,590, median household income is $83,102/year, and the median home value is $221,100.
Is Plano, IL affordable?
Yes, Plano is more affordable than the national average with a cost index of 98. The rent-to-income ratio is 23.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Plano, IL?
The median gross rent in Plano, IL is $1,590 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $19,080.
What is the median household income in Plano?
The median household income in Plano, IL is $83,102 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%.