Genoa, IL Cost Of Living
Cost Of Living In Genoa, IL Summary
Cost of living in Genoa research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Genoa is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Illinois, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Genoa is 90, with 100 being the average.
The cost of living index in Genoa is 0.9x lower than the national average.
Genoa ranks as the #95 cheapest in Illinois out of 338.
Genoa ranks as the #1,633 cheapest out of 6,412 in the US.
The median home value in Genoa is $166,800.
The median income in Genoa is $74,676.
Table Of Contents
Genoa's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Genoa, IL?
According to the most recent data on the cost of living, Genoa has an overall cost of living index of 90, which is 0.9x lower than the national index of 100.
Compared to Illinois, Genoa has a cost of living index that's 1.0x lower than Illinois's index of 92.
The standard of living in Genoa ranks as #95 most affordable out of the 338 places we measured in Illinois. By definition, that implies Genoa ranks as the #243 most expensive place in the Prairie State.
For more reading on life in Genoa, check out:
- Living In Genoa
- Genoa Crime Report
- Search Homes For Sale In Genoa, IL
In Illinois
In America
Genoa Cost Of Living Vs. Illinois
Six factors go into calculating the cost of living index in Genoa. Here is how it fairs on each of the criteria:
The Services index in Genoa is 94.
The Groceries index in Genoa is 96.
The Health index in Genoa is 107.
The Housing index in Genoa is 77.
The Transportation index in Genoa is 104.
The Utilities index in Genoa is 90.
| Living Expense | Genoa | Illinois | National Average | |
|---|---|---|---|---|
| Overall | 90 | 92 | 100 | |
| Services | 94 | 95 | 100 | |
| Groceries | 96 | 98 | 100 | |
| Health | 107 | 96 | 100 | |
| Housing | 77 | 81 | 100 | |
| Transportation | 104 | 105 | 100 | |
| Utilities | 90 | 90 | 100 | |
Genoa, IL Housing Cost Breakdown
Housing swings affordability the most between places in Illinois, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Genoa is $166,800.
The Median Rent in Genoa is $953.
The Median Income in Genoa is $74,676.
The Home Value To Income in Genoa is 2.2x.
The Rent To Monthly Income in Genoa is 0.15x.
| Statistic | Genoa | Illinois | United States |
|---|---|---|---|
| Median Home Value | $166,800 | $212,600 | $244,900 |
| Median Rent | $953 | $1,097 | $1,163 |
| Median Income | $74,676 | $72,563 | $69,021 |
| Home Value To Income | 2.2x | 2.9x | 3.5x |
| Rent To Monthly Income | 0.15x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Genoa, IL Costs By Category
Detailed Genoa Services Costs Vs. Illinois
Detailed Genoa Groceries Costs Vs. Illinois
Detailed Genoa Health Costs Vs. Illinois
Detailed Genoa Transportation Costs Vs. Illinois
Detailed Genoa Utilities Costs Vs. Illinois
Genoa SnackAbility
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Cost Of Living In Cities Around Genoa
The cost of living varies in the cities and towns around Genoa. Here's a quick look at the cost of living in the most populous nearby places:
Elgin, IL has a cost of living index of 103, 1.1x Genoa.
DeKalb, IL has a cost of living index of 94, 1.0x Genoa.
Huntley, IL has a cost of living index of 104, 1.2x Genoa.
| City | Population | Cost Of Living | Vs. Genoa |
|---|---|---|---|
| Elgin, IL | 114,156 | 103 | 1.1x |
| DeKalb, IL | 41,083 | 94 | 1.0x |
| Huntley, IL | 27,314 | 104 | 1.2x |
| Sycamore, IL | 18,144 | 98 | 1.1x |
| Campton Hills, IL | 10,468 | 135 | 1.5x |
| Gilberts, IL | 8,220 | 114 | 1.3x |
| Hampshire, IL | 8,019 | 105 | 1.2x |
| West Dundee, IL | 7,797 | 114 | 1.3x |
| Marengo, IL | 7,466 | 92 | 1.0x |
| Elburn, IL | 5,981 | 112 | 1.2x |
