Bone Gap, IL vs Rankin, IL

Bone Gap is moderately more affordable than Rankin, with a 7.8% lower cost of living index. Bone Gap scores 54 compared to 58 for Rankin, where the US average is 100. This difference means residents of Rankin can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Bone Gap is $481/month compared to $718/month in Rankin — a 33% difference. Interestingly, home values tell a different story: while Bone Gap has cheaper rent, Rankin actually has lower median home values ($57,700 vs $67,000).

Median household income in Bone Gap is $44,167 compared to $47,125 in Rankin (-6.3%). The higher salaries in Rankin partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of Bone Gap spend roughly 13.1% of their income on rent, less than the 18.3% in Rankin.