Cost of Living in Godley, IL

With a cost of living index of 90, Godley, IL is a very affordable place to live. Living here is 10% cheaper than the national average and 10% above the Illinois state average of 80. Godley is a small community of 538 residents.

Housing costs are the biggest factor in Godley's cost of living. The median monthly rent is $1,393 (6% above the US median of $1,319), and the median home value sits at $142,000 (53% below the national median of $304,900). At current prices, the median home costs roughly 2.6x the median household income — well within traditional affordability guidelines.

The median household income in Godley is $54,583, which is 27% lower than the national median of $75,149. Residents spend roughly 31% of household income on rent. This exceeds the recommended 30% threshold, meaning many renters here are cost-burdened. 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 Godley. The area sees an average annual temperature of 49.4°F, with summers averaging 71°F and winters around 26°F. Annual rainfall totals 33.8 inches spread over roughly 126 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Everyday prices in the Chicago-Naperville-Elgin, IL-IN (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 5 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.