Cost of Living in Georgetown, IL

With a cost of living index of 81, Georgetown, IL is a very affordable place to live. Living here is 19% cheaper than the national average and in line with the Illinois state average. Georgetown is a small community of 346 residents.

Housing costs are the biggest factor in Georgetown's cost of living. The median monthly rent is $1,304 (1% below the US median of $1,319), and the median home value sits at $93,200 (69% 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 Georgetown is $74,583, which is 1% lower than the national median of $75,149. Residents spend roughly 21% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Georgetown. The area sees an average annual temperature of 51.9°F, with summers averaging 74°F and winters around 28°F. Annual rainfall totals 37.9 inches spread over roughly 114 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.