Cost of Living in Savanna, IL

With a cost of living index of 63, Savanna, IL is one of the most affordable cities in the country. Living here is 37% cheaper than the national average and 16% below the Illinois state average of 80. Savanna is a small community of 2,851 residents.

Housing costs are the biggest factor in Savanna's cost of living. The median monthly rent is $777 (41% below the US median of $1,319), and the median home value sits at $75,000 (75% below the national median of $304,900). At current prices, the median home costs roughly 1.6x the median household income — well within traditional affordability guidelines.

The median household income in Savanna is $46,094, which is 39% lower than the national median of $75,149. Residents spend roughly 20% 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 Savanna. 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.