Cost of Living in Elizabethtown, IL

With a cost of living index of 46, Elizabethtown, IL is one of the most affordable cities in the country. Living here is 54% cheaper than the national average and 34% below the Illinois state average of 80. Elizabethtown is a small community of 303 residents.

Housing costs are the biggest factor in Elizabethtown's cost of living. The median monthly rent is $232 (82% below the US median of $1,319), and the median home value sits at $65,800 (78% below the national median of $304,900). At current prices, the median home costs roughly 3.2x the median household income — a moderately affordable ratio by today's standards.

The median household income in Elizabethtown is $20,645, which is 73% 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.

Climate is another factor for anyone considering a move to Elizabethtown. The area sees an average annual temperature of 58.8°F, with summers averaging 78°F and winters around 39°F. Annual rainfall totals 50.3 inches spread over roughly 114 days.

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.