Cost of Living in Chapin, IL

With a cost of living index of 69, Chapin, IL is one of the most affordable cities in the country. Living here is 31% cheaper than the national average and 11% below the Illinois state average of 80. Chapin is a small community of 618 residents.

Housing costs are the biggest factor in Chapin's cost of living. The median monthly rent is $945 (28% below the US median of $1,319), and the median home value sits at $83,800 (73% below the national median of $304,900). At current prices, the median home costs roughly 1.2x the median household income — well within traditional affordability guidelines.

The median household income in Chapin is $69,213, which is 8% lower than the national median of $75,149. Residents spend roughly 16% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

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.