Housing costs in Hamel?
A typical home costs
$245,600, which is 27.4% less expensive than the national average of
$338,100 and 1.6% more expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Hamel costs
$970 per month, which is 23.0% cheaper than the national average of
$1,260 and 2.1% cheaper than the state average of
$990.
Can I afford Hamel?
To live comfortably in Hamel (zip 62046), Illinois, a minimum annual income of
$47,160 for a family, and
$30,800 for a single person is recommended.
What does A.I. say about Hamel?
The cost of living in Hamel, IL is lower than the US average. According to BestPlaces.net, the cost of living index for Hamel is 82.7, while the US average is 100. This means that overall costs of goods and services are 18% lower in Hamel than elsewhere in the country. Housing costs specifically are 26% lower than other parts of the country, making it an affordable place to live. The median value of homes in Hamel is around $105,700, significantly lower than the national average of $181,200. Rent prices are also low with a one bedroom averaging just over $600 and a two bedroom averaging just under $800 per month. Utilities such as electricity and water are slightly above national averages but remain affordable for most residents.