Cost of Living in Marshall, IL

With a cost of living index of 69, Marshall, IL is one of the most affordable cities in the country. Living here is 31% cheaper than the national average and 11% below the Illinois state average of 80. Marshall is a small community of 3,987 residents.

Housing costs are the biggest factor in Marshall's cost of living. The median monthly rent is $850 (36% below the US median of $1,319), and the median home value sits at $118,500 (61% below the national median of $304,900). At current prices, the median home costs roughly 1.7x the median household income — well within traditional affordability guidelines.

The median household income in Marshall is $70,950, which is 6% lower than the national median of $75,149. Residents spend roughly 14% 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 Marshall. The area sees an average annual temperature of 53.5°F, with summers averaging 74°F and winters around 32°F. Annual rainfall totals 40.8 inches spread over roughly 123 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.