Cost of Living in Vermilion, IL

With a cost of living index of 71, Vermilion, 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. Vermilion is a small community of 194 residents.

Housing costs are the biggest factor in Vermilion's cost of living. The median monthly rent is $1,075 (18% below the US median of $1,319), and the median home value sits at $59,600 (80% below the national median of $304,900). At current prices, the median home costs roughly 1.3x the median household income — well within traditional affordability guidelines.

The median household income in Vermilion is $46,250, which is 38% lower than the national median of $75,149. Residents spend roughly 28% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability. 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 Vermilion. The area sees an average annual temperature of 53.5°F, with summers averaging 74°F and winters around 32°F. Annual rainfall totals 40.8 inches spread over roughly 123 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.