Cost of Living in New Holland, IL

With a cost of living index of 66, New Holland, IL is one of the most affordable cities in the country. Living here is 34% cheaper than the national average and 13% below the Illinois state average of 80. New Holland is a small community of 229 residents.

Housing costs are the biggest factor in New Holland's cost of living. The median monthly rent is $864 (34% below the US median of $1,319), and the median home value sits at $81,500 (73% below the national median of $304,900). At current prices, the median home costs roughly 0.9x the median household income — well within traditional affordability guidelines.

The median household income in New Holland is $88,125, which is 17% higher than the national median of $75,149. Residents spend roughly 12% 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 New Holland. The area sees an average annual temperature of 54°F, with summers averaging 75°F and winters around 31°F. Annual rainfall totals 38 inches spread over roughly 115 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.