Cost of Living in Penfield, IL

With a cost of living index of 80, Penfield, IL is a very affordable place to live. Living here is 20% cheaper than the national average and in line with the Illinois state average. Penfield is a small community of 195 residents.

The median household income in Penfield is $94,531, which is 26% higher than the national median of $75,149.

Climate is another factor for anyone considering a move to Penfield. The area sees an average annual temperature of 52.3°F, with summers averaging 74°F and winters around 29°F. Annual rainfall totals 40.4 inches spread over roughly 102 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Everyday prices in the Champaign-Urbana, 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.