How much do households in Illinois spend on rent?
About $1,170 per month, or 30.6% of renters' income, in 2022. This is measured by comparing median rent and median monthly income for renting households.
Showing data for
In 2022, median rent was
30.6%
of median income
In 2022,
$1.2K
was the median rent per month
Comparing rent to renter income provides one measure of rental affordability. Dividing rent by income provides what is called a rent-to-income ratio. A higher ratio of rent-to-income indicates rent is less affordable while a lower ratio indicates it’s more affordable.
The Department of Housing and Urban Development considers households with a rent-to-income ratio of more than 30%, that is, households that spend more than 30% of their income on housing, to be cost-burdened. Cost-burdened households may have less money for other necessities such as food, healthcare, or savings. When median monthly rent is more than 30% of average monthly income, it means a typical household would meet the definition of housing cost-burdened.
Illinois's rent-to-income ratio was lower than in the US overall in 2022.
Ratio of median gross rent to median renter household income
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The national rent-to-income ratio reached a high of 33.8% in 2011 following the Great Recession. In Illinois, the rent-to-income ratio reached 34.5% that year. Most recently, in 2022, Illinois’s rent-to-income ratio was 30.6%, 1.1 percentage points lower than the national rate.
Across metro areas, the average rent-to-income ratio was 30.8% in 2018–2022.
Ratio of median gross rent to median renter household income, 2018–2022
In 2018–2022, the average rent-to-income ratio across metro areas was 30.8%. The metro areas with the highest and lowest ratios were the Mayagüez, Puerto Rico at 56.9% (highest) and Sheboygan, Wisconsin, at 21.7% (lowest). In Illinois, the highest and lowest were Champaign at 33.8% and Danville at 27.1%.
During that period, Chicago, Illinois had the highest median rent at $1,310 per month and highest median monthly income at $4,308 out of ten Illinois metro areas. Its rent-to-income ratio was sixth highest in the state.
Renter income and rent, Illinois metro areas (2018–2022)
| 1. | Bloomington, IL area | $3,016 |
| 2. | Carbondale, IL area | $2,451 |
| 3. | Champaign, IL area | $2,887 |
| 4. | Chicago, IL area | $4,308 |
| 5. | Danville, IL area | $2,842 |
| 6. | Decatur, IL area | $2,778 |
| 7. | Kankakee, IL area | $3,100 |
| 8. | Peoria, IL area | $3,008 |
| 9. | Rockford, IL area | $3,013 |
| 10. | Springfield, IL area | $3,179 |
