Housing costs in Springfield?
A typical home costs
$172,500, which is 49.0% less expensive than the national average of
$338,100 and 28.6% less expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Springfield costs
$1,170 per month, which is 7.1% cheaper than the national average of
$1,260 and 22.2% more than the state average of
$910.
Can I afford Springfield?
To live comfortably in Springfield (zip 62701), Illinois, a minimum annual income of
$33,120 for a family, and
$38,000 for a single person is recommended.
What does A.I. say about Springfield?
The cost of living in 62701 Springfield, IL is quite reasonable compared to many other areas in the United States. The median home price in this area is $127,000, which is lower than the national average. Renting an apartment or house in the city generally costs between $650 and $1,000 per month. Utilities are also quite affordable with electricity averaging around $100 per month and natural gas costing only about half that amount. Groceries also remain relatively affordable with a grocery bill for a family of four estimated at around $750 to $900 per month. All in all, 62701 Springfield, IL offers residents an excellent quality of life at an affordable cost of living.