Cost of Living in Wadsworth, IL

With a cost of living index of 99, Wadsworth, IL is right around the national average in cost. Living here is 1% cheaper than the national average and 19% above the Illinois state average of 80. Wadsworth is a small community of 3,535 residents.

Housing costs are the biggest factor in Wadsworth's cost of living. The median monthly rent is $1,052 (20% below the US median of $1,319), and the median home value sits at $377,900 (24% above the national median of $304,900). At current prices, the median home costs roughly 3.1x the median household income — a moderately affordable ratio by today's standards.

The median household income in Wadsworth is $121,583, which is 62% higher than the national median of $75,149. Residents spend roughly 10% 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 Wadsworth. The area sees an average annual temperature of 48.3°F, with summers averaging 69°F and winters around 26°F. Annual rainfall totals 35.3 inches spread over roughly 129 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Everyday prices in the Chicago-Naperville-Elgin, IL-IN (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 5 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.