Cost of Living in Springfield, IL
Population: 113,714 • 2026 Data
$65,537
Median Household Income
-15% vs national
$945
Median Monthly Rent
-30% vs national
$155,200
Median Home Value
-54% vs national
6.7%
Unemployment Rate
Housing in Springfield
The median home value in Springfield, IL is $155,200. Monthly rent for a typical unit averages $945, while total monthly housing costs (including utilities and insurance) average $974.
Rent-to-income ratio: 17.3%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Springfield, IL is $65,537. The unemployment rate stands at 6.7%, with a labor force of 55,195 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.