Illinois · Population 113,714 · Updated March 2026
How far your income goes in Springfield
State-level tax rates that affect your costs
Springfield is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 61 (where 100 equals the national median), Springfield residents can expect to pay median rent of $945/month while earning a median household income of $65,537/year.
The median home value in Springfield, IL is $155,200, with typical monthly owner costs around $974 including mortgage, insurance, and taxes. The median rent-to-income ratio of 17.3% 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 Springfield.
Common questions about living costs in Springfield
Similar-sized cities to compare
Compare the cost of living in Springfield, IL with 299 other major U.S. cities