Cost of Living in New Boston, IL

With a cost of living index of 54, New Boston, IL is one of the most affordable cities in the country. Living here is 46% cheaper than the national average and 26% below the Illinois state average of 80. New Boston is a small community of 632 residents.

Housing costs are the biggest factor in New Boston's cost of living. The median monthly rent is $483 (63% below the US median of $1,319), and the median home value sits at $100,700 (67% below the national median of $304,900). At current prices, the median home costs roughly 1.6x the median household income — well within traditional affordability guidelines.

The median household income in New Boston is $61,563, which is 18% lower than the national median of $75,149. Residents spend roughly 9% 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 New Boston. 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.

Everyday prices in the Davenport-Moline-Rock Island, IA-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.