Cost of Living in Westchester, IL

With a cost of living index of 114, Westchester, IL is somewhat more expensive than average. Living here is 14% more expensive than the national average and 34% above the Illinois state average of 80. Westchester is a smaller community of 16,524 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Westchester's cost of living. The median monthly rent is $1,767 (34% above the US median of $1,319), and the median home value sits at $297,400 (2% below the national median of $304,900). At current prices, the median home costs roughly 2.9x the median household income — well within traditional affordability guidelines.

The median household income in Westchester is $103,561, which is 38% higher than the national median of $75,149. Residents spend roughly 20% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. While incomes are above average, they more than offset the higher cost of living.

Climate is another factor for anyone considering a move to Westchester. The area sees an average annual temperature of 52.1°F, with summers averaging 74°F and winters around 29°F. Annual rainfall totals 34.4 inches spread over roughly 121 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.