Burnham, IL vs Waterloo, IL

Waterloo is moderately more affordable than Burnham, with a 5.7% lower cost of living index. Burnham scores 84 compared to 79 for Waterloo, where the US average is 100. This difference means residents of Burnham can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Burnham is $1,183/month compared to $873/month in Waterloo — a 36% difference. Interestingly, home values tell a different story: while Waterloo has cheaper rent, Burnham actually has lower median home values ($146,400 vs $237,900).

Median household income in Burnham is $55,708 compared to $92,005 in Waterloo (-39.5%). Waterloo offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Burnham spend roughly 25.5% of their income on rent, more than the 11.4% in Waterloo.