Good Hope, IL vs New Milford, IL

Good Hope, IL and New Milford, IL have a very similar cost of living, with only a 0.6% difference in their overall index. Good Hope scores 65 while New Milford scores 65 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 Good Hope is $788/month compared to $750/month in New Milford — a 5% difference. Interestingly, home values tell a different story: while New Milford has cheaper rent, Good Hope actually has lower median home values ($95,900 vs $130,200).

Median household income in Good Hope is $69,063 compared to $73,125 in New Milford (-5.6%). New Milford offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Good Hope spend roughly 13.7% of their income on rent, more than the 12.3% in New Milford.

Climate-wise, both cities share similar average temperatures (51.9°F vs 49.4°F). Good Hope receives more rainfall at 37.9" per year compared to 37.2" in New Milford.