Cost of Living in Warsaw, IL

With a cost of living index of 64, Warsaw, IL is one of the most affordable cities in the country. Living here is 36% cheaper than the national average and 15% below the Illinois state average of 80. Warsaw is a small community of 1,511 residents.

Housing costs are the biggest factor in Warsaw's cost of living. The median monthly rent is $769 (42% below the US median of $1,319), and the median home value sits at $90,700 (70% below the national median of $304,900). At current prices, the median home costs roughly 1.6x the median household income — well within traditional affordability guidelines.

The median household income in Warsaw is $58,074, which is 23% lower than the national median of $75,149. Residents spend roughly 16% 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 Warsaw. The area sees an average annual temperature of 53°F, with summers averaging 75°F and winters around 30°F. Annual rainfall totals 36.4 inches spread over roughly 109 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.