Rantoul, IL

Very Low · 53

Illinois · Population 12,515 · Updated March 2026

$899
Median Rent / Month
$49,821
Median Income
$109,200
Median Home Value
$903
Owner Costs / Month

Affordability

How far your income goes in Rantoul

21.7%
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

$10,788
Annual Rent
$2,466
State Income Tax
$2,260
Property Tax (est.)

Cost of Living Overview

Rantoul 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), Rantoul residents can expect to pay median rent of $899/month while earning a median household income of $49,821/year.

The median home value in Rantoul, IL is $109,200, with typical monthly owner costs around $903 including mortgage, insurance, and taxes. The median rent-to-income ratio of 21.7% 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 Rantoul.

Frequently Asked Questions

Common questions about living costs in Rantoul

What is the cost of living in Rantoul, IL?
The cost of living index in Rantoul, IL is 53 (US average = 100). Median monthly rent is $899, median household income is $49,821/year, and the median home value is $109,200.
Is Rantoul, IL affordable?
Yes, Rantoul is more affordable than the national average with a cost index of 53. The rent-to-income ratio is 21.7%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Rantoul, IL?
The median gross rent in Rantoul, IL is $899 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $10,788.
What is the median household income in Rantoul?
The median household income in Rantoul, IL is $49,821 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%.