Cost of Living in Freeport, IL

With a cost of living index of 64, Freeport, IL is one of the most affordable cities in the country. Living here is 36% cheaper than the national average and 16% below the Illinois state average of 80. Freeport is a smaller community of 23,636 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Freeport's cost of living. The median monthly rent is $760 (42% below the US median of $1,319), and the median home value sits at $86,100 (72% below the national median of $304,900). At current prices, the median home costs roughly 1.8x the median household income — well within traditional affordability guidelines.

The median household income in Freeport is $48,181, which is 36% lower than the national median of $75,149. Residents spend roughly 19% 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 Freeport. The area sees an average annual temperature of 49.4°F, with summers averaging 72°F and winters around 25°F. Annual rainfall totals 37.2 inches spread over roughly 121 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

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.