Cost of Living in Clay City, IL

With a cost of living index of 58, Clay City, IL is one of the most affordable cities in the country. Living here is 42% cheaper than the national average and 22% below the Illinois state average of 80. Clay City is a small community of 744 residents.

Housing costs are the biggest factor in Clay City's cost of living. The median monthly rent is $585 (56% below the US median of $1,319), and the median home value sits at $75,500 (75% 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 Clay City is $53,750, which is 28% lower 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. 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.