Cost of Living in The Galena Territory, IL

With a cost of living index of 94, The Galena Territory, IL is slightly more affordable than average. Living here is 6% cheaper than the national average and 14% above the Illinois state average of 80. The Galena Territory is a small community of 1,644 residents.

Housing costs are the biggest factor in The Galena Territory's cost of living. The median monthly rent is $1,148 (13% below the US median of $1,319), and the median home value sits at $311,000 (2% above the national median of $304,900). At current prices, the median home costs roughly 2.8x the median household income — well within traditional affordability guidelines.

The median household income in The Galena Territory is $112,386, which is 50% higher than the national median of $75,149. Residents spend roughly 12% 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 The Galena Territory. 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.