Cost of Living in Taylor Springs, IL

With a cost of living index of 63, Taylor Springs, IL is one of the most affordable cities in the country. Living here is 37% cheaper than the national average and 17% below the Illinois state average of 80. Taylor Springs is a small community of 691 residents.

Housing costs are the biggest factor in Taylor Springs's cost of living. The median monthly rent is $781 (41% below the US median of $1,319), and the median home value sits at $67,100 (78% below the national median of $304,900). At current prices, the median home costs roughly 1.5x the median household income — well within traditional affordability guidelines.

The median household income in Taylor Springs is $45,323, which is 40% lower than the national median of $75,149. Residents spend roughly 21% 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 Taylor Springs. The area sees an average annual temperature of 57.7°F, with summers averaging 77°F and winters around 36°F. Annual rainfall totals 43.4 inches spread over roughly 100 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.