Cost of Living in Paris, IL

With a cost of living index of 62, Paris, IL is one of the most affordable cities in the country. Living here is 38% cheaper than the national average and 17% below the Illinois state average of 80. Paris is a smaller community of 8,154 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Paris's cost of living. The median monthly rent is $755 (43% below the US median of $1,319), and the median home value sits at $71,200 (77% 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 Paris is $51,798, which is 31% lower than the national median of $75,149. Residents spend roughly 17% 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 Paris. 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.