Cost of Living in Hamel, IL

With a cost of living index of 81, Hamel, 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. Hamel is a small community of 1,004 residents.

Housing costs are the biggest factor in Hamel's cost of living. The median monthly rent is $940 (29% below the US median of $1,319), and the median home value sits at $231,900 (24% below the national median of $304,900). At current prices, the median home costs roughly 2.2x the median household income — well within traditional affordability guidelines.

The median household income in Hamel is $105,313, which is 40% higher than the national median of $75,149. Residents spend roughly 11% 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 Hamel. The area sees an average annual temperature of 57.7°F, with summers averaging 77°F and winters around 36°F. Annual rainfall totals 43.4 inches spread over roughly 100 days.

Everyday prices in the St. Louis, MO-IL (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower 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.