Cost of Living in Hoffman Estates, IL
Population: 51,186 • 2026 Data
$109,683
Median Household Income
+42% vs national
$1,764
Median Monthly Rent
+31% vs national
$340,400
Median Home Value
+0% vs national
3.6%
Unemployment Rate
Housing in Hoffman Estates
The median home value in Hoffman Estates, IL is $340,400. Monthly rent for a typical unit averages $1,764, while total monthly housing costs (including utilities and insurance) average $1,716.
Rent-to-income ratio: 19.3%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Hoffman Estates, IL is $109,683. The unemployment rate stands at 3.6%, with a labor force of 28,510 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.