Cost of Living in Bismarck, IL

With a cost of living index of 67, Bismarck, IL is one of the most affordable cities in the country. Living here is 33% cheaper than the national average and 12% below the Illinois state average of 80. Bismarck is a small community of 510 residents.

Housing costs are the biggest factor in Bismarck's cost of living. The median monthly rent is $817 (38% below the US median of $1,319), and the median home value sits at $110,300 (64% below the national median of $304,900). At current prices, the median home costs roughly 1.4x the median household income — well within traditional affordability guidelines.

The median household income in Bismarck is $76,875, which is 2% higher than the national median of $75,149. Residents spend roughly 13% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.