Quincy, IL

Very Low · 55

Illinois · Population 39,188 · Updated March 2026

$824
Median Rent / Month
$56,372
Median Income
$146,100
Median Home Value
$857
Owner Costs / Month

Affordability

How far your income goes in Quincy

17.5%
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

$9,888
Annual Rent
$2,790
State Income Tax
$3,024
Property Tax (est.)

Cost of Living Overview

Quincy is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 55 (where 100 equals the national median), Quincy residents can expect to pay median rent of $824/month while earning a median household income of $56,372/year.

The median home value in Quincy, IL is $146,100, with typical monthly owner costs around $857 including mortgage, insurance, and taxes. The median rent-to-income ratio of 17.5% 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 Quincy.

Frequently Asked Questions

Common questions about living costs in Quincy

What is the cost of living in Quincy, IL?
The cost of living index in Quincy, IL is 55 (US average = 100). Median monthly rent is $824, median household income is $56,372/year, and the median home value is $146,100.
Is Quincy, IL affordable?
Yes, Quincy is more affordable than the national average with a cost index of 55. The rent-to-income ratio is 17.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Quincy, IL?
The median gross rent in Quincy, IL is $824 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $9,888.
What is the median household income in Quincy?
The median household income in Quincy, IL is $56,372 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%.