Housing costs in Lima?
A typical home costs
$123,800, which is 63.4% less expensive than the national average of
$338,100 and 48.8% less expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Lima costs
$860 per month, which is 39.9% cheaper than the national average of
$1,430 and 46.5% cheaper than the state average of
$1,260.
Can I afford Lima?
To live comfortably in Lima (zip 62348), Illinois, a minimum annual income of
$23,760 for a family, and
$26,000 for a single person is recommended.
What does A.I. say about Lima?
The cost of living in 62348 Lima, IL is quite affordable compared to other parts of the country. The median home value is $76,300, which is significantly lower than the national average making it a great place for first time buyers or those looking to downsize. The overall cost of living index in 62348 Lima is 78.6, significantly lower than the US average of 100. This means that basic expenses such as groceries, transportation and healthcare are relatively low when compared to other areas. Additionally, there are numerous jobs available in the area with an unemployment rate below 3% making it a great place for employment opportunities as well.