Rolling Meadows, IL

Average · 106

Illinois · Population 23,981 · Updated March 2026

$1,563
Median Rent / Month
$100,424
Median Income
$299,700
Median Home Value
$1,648
Owner Costs / Month

Affordability

How far your income goes in Rolling Meadows

18.7%
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

$18,756
Annual Rent
$4,971
State Income Tax
$6,204
Property Tax (est.)

Cost of Living Overview

Rolling Meadows is more expensive than the national average. Higher housing costs are typically the primary driver. With a cost index of 106 (where 100 equals the national median), Rolling Meadows residents can expect to pay median rent of $1,563/month while earning a median household income of $100,424/year.

The median home value in Rolling Meadows, IL is $299,700, with typical monthly owner costs around $1,648 including mortgage, insurance, and taxes. The median rent-to-income ratio of 18.7% 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 Rolling Meadows.

Frequently Asked Questions

Common questions about living costs in Rolling Meadows

What is the cost of living in Rolling Meadows, IL?
The cost of living index in Rolling Meadows, IL is 106 (US average = 100). Median monthly rent is $1,563, median household income is $100,424/year, and the median home value is $299,700.
Is Rolling Meadows, IL affordable?
No, Rolling Meadows is more expensive than the national average with a cost index of 106. The rent-to-income ratio is 18.7%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Rolling Meadows, IL?
The median gross rent in Rolling Meadows, IL is $1,563 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $18,756.
What is the median household income in Rolling Meadows?
The median household income in Rolling Meadows, IL is $100,424 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%.