Housing costs in Lincoln?
A typical home costs
$110,400, which is 67.3% less expensive than the national average of
$338,100 and 54.3% less expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Lincoln costs
$840 per month, which is 41.3% cheaper than the national average of
$1,430 and 50.0% cheaper than the state average of
$1,260.
Can I afford Lincoln?
To live comfortably in Lincoln Illin Metro Area, Illinois, a minimum annual income of
$21,240 for a family, and
$26,400 for a single person is recommended.
What does A.I. say about Lincoln?
The cost of living in the Lincoln, IL Metro Area is significantly lower than the national average. It has an index of 72.4, compared to the US average Cost of Living index of 100. This means that residents in this metro area enjoy a cost of living that is almost 28% lower than the national average across all categories such as housing, groceries, healthcare, and transportation. In addition, when combined with the median house value of $110,400 which is also much lower than the US median house value of $338,100., residents are able to purchase higher quality homes for lesser costs in comparison to other areas across the country.