Cornell, IL vs Oakwood, IL

Cornell, IL and Oakwood, IL have a very similar cost of living, with only a 1.7% difference in their overall index. Cornell scores 67 while Oakwood scores 66 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Cornell is $871/month compared to $795/month in Oakwood — a 10% difference. Interestingly, home values tell a different story: while Oakwood has cheaper rent, Cornell actually has lower median home values ($83,800 vs $98,300).

Median household income in Cornell is $64,286 compared to $43,894 in Oakwood (+46.5%). While Cornell is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Cornell spend roughly 16.3% of their income on rent, less than the 21.7% in Oakwood.