Cost of Living in Nora, IL

With a cost of living index of 73, Nora, IL is one of the most affordable cities in the country. Living here is 27% cheaper than the national average and 6% below the Illinois state average of 80. Nora is a small community of 178 residents.

Housing costs are the biggest factor in Nora's cost of living. The median monthly rent is $1,109 (16% below the US median of $1,319), and the median home value sits at $73,800 (76% below the national median of $304,900). At current prices, the median home costs roughly 1.4x the median household income — well within traditional affordability guidelines.

The median household income in Nora is $52,112, which is 31% lower than the national median of $75,149. Residents spend roughly 26% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability. 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 Nora. The area sees an average annual temperature of 47.2°F, with summers averaging 70°F and winters around 22°F. Annual rainfall totals 38.2 inches spread over roughly 118 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

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.