Cost of Living in Carbon Hill, IL

With a cost of living index of 91, Carbon Hill, IL is slightly more affordable than average. Living here is 9% cheaper than the national average and 11% above the Illinois state average of 80. Carbon Hill is a small community of 485 residents.

Housing costs are the biggest factor in Carbon Hill's cost of living. The median monthly rent is $1,229 (7% below the US median of $1,319), and the median home value sits at $217,100 (29% below the national median of $304,900). At current prices, the median home costs roughly 2.2x the median household income — well within traditional affordability guidelines.

The median household income in Carbon Hill is $100,368, which is 34% higher than the national median of $75,149. Residents spend roughly 15% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Everyday prices in the Chicago-Naperville-Elgin, IL-IN (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 5 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.