Elmwood, IL vs Shannon, IL

Elmwood, IL and Shannon, IL have a very similar cost of living, with only a 4.1% difference in their overall index. Elmwood scores 66 while Shannon scores 63 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 Elmwood is $761/month compared to $675/month in Shannon — a 13% difference. Home values follow the same pattern: Shannon is more affordable at $114,100 median vs $144,600.

Median household income in Elmwood is $87,644 compared to $59,375 in Shannon (+47.6%). While Elmwood is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Elmwood spend roughly 10.4% of their income on rent, less than the 13.6% in Shannon.

Climate-wise, Elmwood is notably warmer with an average of 52.7°F compared to 49.4°F in Shannon. Elmwood receives more rainfall at 37.6" per year compared to 37.2" in Shannon.