5 Cheapest Places to Live in Illinois

Tim Mossholder/Unsplash

According to HomeSnacks, here are the 5cheapest places to live in Illinois.

Top 5:Hillsboro

Hillsboro has the 13th lowest home price to income ratio in Illinois, making it the fifth most affordable city in the Prairie State. Hillsboro's median home price is $90,200, but with a median income of $53,346, you'll pay off your mortgage in no time. Despite Hillsboro being the most expensive city on this list, its rent-to-income ratio isn't the worst because its median income is decent. The Bremer Sanctuary offers free bird watching if you're still trying to maximize your savings in Hillsboro.

A half-hour's drive away from Springfield is Hillsboro, as has become a pattern.

Follow me to see more articles like this.

...

Follow

Top 4:Creve Coeur

Creve Coeur didn't even make the top 50 cheapest places to live in Illinois last year, so its jump to #4 signifies a significant improvement in affordability. Why has such a massive change taken place? Creve Coeur has the tenth best ratio of home price to income in the state due to higher wages and lower home prices. Creve Coeur's median income in 2021 was $48,870, and the median home price was $82,400. Mountain biking at Creve Couer Independence Park is an inexpensive weekend activity if you have all the gear you need.

There is a suburb of Peoria called Creve Coeur.

Top 3: Pana

Pana is among the best places on this list to buy a home on a budget. With a median income of $50,028 and a low unemployment rate, you should have no trouble finding a job. Accordingly, Pana is the seventh least expensive city in Illinois, based on its median home price of $75,400, the best out of all the cities listed. Then you can cut down both your entertainment and food budgets at the same time by eating catfish from Pana Lake.

Pana is located about 90 minutes south of Springfield.

Top 2: Clinton

Clinton, an hour northeast of Springfield, is the second most affordable city in Illinois. Clinton is located in one of the most productive agricultural areas of the country. In addition to having one of the lowest city property tax rates in downstate Illinois, it provides excellent city services to its citizens. Schools, housing options, growing businesses, fine dining, a vibrant downtown, parks, an acclaimed hospital, low crime rates, and quaint small-town charm make this city a great place to live. Clinton has a median income of $46,923, which is slightly lower than that of Litchfield. Clinton's median home price is slightly higher and has moved it to the #2 spot. Furthermore, Clinton's unemployment rate is about double that of Litchfield, so you may have a more challenging time finding a job to appreciate the city's affordability.

With the free things to do in Clinton, like hiking at Weldon Springs State Park, you'll save money, too.

Top 1:Litchfield

Litchfield, a small city between St. Louis and Springfield, is the cheapest place to live in Illinois for 2021.Illinois. Our small community is known as the "hub" of Central Illinois. Litchfield wins the gold medal for affordability with an equally attractive rental market and a great place to buy. Rent in Litchfield is $571, about three times less than the state average. Long-term residents who plan to stay in Litchfield can expect to pay $75,900 for a home. Litchfield has the sixth-best ratio of home price to gain in the state, with a median income of $50,368.

Did your favorite town not make a list? Leave a comment if we missed one.

Sources:

https://www.homesnacks.com/most-affordable-places-in-illinois/

https://www.homesnacks.com/il/litchfield-cost-of-living/

https://www.homesnacks.com/il/clinton-cost-of-living/

https://www.homesnacks.com/il/pana-cost-of-living/

https://www.homesnacks.com/il/creve-coeur-cost-of-living/

https://www.homesnacks.com/il/hillsboro-cost-of-living/

Follow me to see more articles like this.

...

Follow

This is original content from NewsBreak’s Creator Program. Join today to publish and share your own content.