Cost of Living in Shumway, IL

With a cost of living index of 71, Shumway, IL is one of the most affordable cities in the country. Living here is 29% cheaper than the national average and 9% below the Illinois state average of 80. Shumway is a small community of 217 residents.

Housing costs are the biggest factor in Shumway's cost of living. The median monthly rent is $950 (28% below the US median of $1,319), and the median home value sits at $103,400 (66% 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 Shumway is $76,250, which is 1% higher than the national median of $75,149. Residents spend roughly 15% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Shumway. The area sees an average annual temperature of 53.4°F, with summers averaging 74°F and winters around 31°F. Annual rainfall totals 36 inches spread over roughly 108 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.