Cost of Living in Warren, IL

With a cost of living index of 65, Warren, IL is one of the most affordable cities in the country. Living here is 35% cheaper than the national average and 15% below the Illinois state average of 80. Warren is a small community of 1,439 residents.

Housing costs are the biggest factor in Warren's cost of living. The median monthly rent is $752 (43% below the US median of $1,319), and the median home value sits at $104,900 (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 Warren is $73,500, which is 2% lower 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 Warren. 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.