Wheeling, IL

Average · 99

Illinois · Population 38,495 · Updated March 2026

$1,578
Median Rent / Month
$83,251
Median Income
$244,600
Median Home Value
$1,539
Owner Costs / Month

Affordability

How far your income goes in Wheeling

22.7%
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

$18,936
Annual Rent
$4,121
State Income Tax
$5,063
Property Tax (est.)

Cost of Living Overview

Wheeling has a cost of living close to the national average, offering a balanced mix of expenses and amenities. With a cost index of 99 (where 100 equals the national median), Wheeling residents can expect to pay median rent of $1,578/month while earning a median household income of $83,251/year.

The median home value in Wheeling, IL is $244,600, with typical monthly owner costs around $1,539 including mortgage, insurance, and taxes. The median rent-to-income ratio of 22.7% 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 Wheeling.

Frequently Asked Questions

Common questions about living costs in Wheeling

What is the cost of living in Wheeling, IL?
The cost of living index in Wheeling, IL is 99 (US average = 100). Median monthly rent is $1,578, median household income is $83,251/year, and the median home value is $244,600.
Is Wheeling, IL affordable?
Yes, Wheeling is more affordable than the national average with a cost index of 99. The rent-to-income ratio is 22.7%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Wheeling, IL?
The median gross rent in Wheeling, IL is $1,578 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $18,936.
What is the median household income in Wheeling?
The median household income in Wheeling, IL is $83,251 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%.