Springfield, Illinois has an overall cost of living index of 90.0, which is 10.0 points below the US average of 100 — making it more affordable than most American cities. Renters pay a median of $945 per month, while the typical home is valued around $155,200. Households earn a median of $65,537 per year, leaving rent at a manageable share of income for many residents. The figures below cover housing, local wages by occupation, demographics, and air quality, all drawn from the US Census Bureau, BEA, HUD, and EPA.
Median Household Income
$65,537
Annual · Census ACS
Median Gross Rent
$945
Per month · Census ACS
Median Home Value
$155,200
Census ACS
Cost of Living Index
90.0
BEA RPP · US avg = 100
Studio FMR
$829
HUD Fair Market Rent
1BR Fair Market Rent
$970
HUD FMR
2BR Fair Market Rent
$1,203
HUD FMR
3BR Fair Market Rent
$1,611
HUD FMR
HUD Fair Market Rent = 40th percentile gross rent · FY2024
Each category is indexed to the US average of 100. Below 100 = cheaper than average.
Overall
90.0
Goods
94.0
Rents / Housing
76.6
Services
89.1
Source: BEA Regional Price Parities (metro-level)
State Income Tax
4.95%
Top marginal rate
State Sales Tax
6.25%
Statewide base rate (local add-ons may apply)
Source: Tax Foundation (2024)
| Occupation | Median Annual Wage |
|---|---|
| 💻Software Developer | $99,560 |
| 🏥Registered Nurse | $67,490 |
| 📚Elementary Teacher | $50,310 |
| ⚡Electrician | $57,360 |
| 📊Accountant | $81,020 |
Source: BLS OEWS 2023 (metro-level data)
Population
113,714
Latest estimate
Median Age
40.7 yrs
Census ACS
🌬️
AQI data not available
Source: EPA AirNow
What is the cost of living index for Springfield?
Springfield has a Regional Price Parity (RPP) index of 90.0. The US national average is 100, so Springfield is 10.0 points below the national average.
What is the median rent in Springfield?
The median gross rent in Springfield is $945 per month according to US Census ACS data.
What is the median household income in Springfield?
The median household income in Springfield is $65,537 per year.
What is the median home value in Springfield?
The median home value in Springfield is $155,200 based on the latest Census ACS survey.
How is the air quality in Springfield?
Air quality data for Springfield is not yet available.
What are the taxes like in Springfield?
Illinois has a top state income tax rate of 4.95% and a statewide sales tax of 6.25% (local rates may add to this). Source: Tax Foundation, 2024.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology