Cost of Living in Noble, IL

With a cost of living index of 54, Noble, 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. Noble is a small community of 630 residents.

Housing costs are the biggest factor in Noble's cost of living. The median monthly rent is $513 (61% below the US median of $1,319), and the median home value sits at $54,400 (82% below the national median of $304,900). At current prices, the median home costs roughly 1.2x the median household income — well within traditional affordability guidelines.

The median household income in Noble is $43,977, which is 41% 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 Noble. The area sees an average annual temperature of 55.7°F, with summers averaging 76°F and winters around 34°F. Annual rainfall totals 41.7 inches spread over roughly 116 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.