Cost of Living in Albion, IL
Housing
The housing market plays a significant role in determining the cost of living in Albion, IL.
- Housing Index: 101.8 / 100
- Median Home Price is: $105,000
- Average Rent (2 BR Apartment): $1707 per month
- Average Rent (2 BR House): $1855 per month
Considering a move to Albion, IL? With a housing index of 101.8, it's important to note that the median home price stands at 105000, making homeownership relatively affordable compared to many regions. The average rent for a 2-bedroom apartment is approximately 1707, while a 2-bedroom house averages around 1855. These rental prices suggest a balanced market, though slightly on the higher side—for potential renters or buyers, this offers opportunities to invest in a stable housing environment. Overall, do weigh your priorities for living space comfort against financial readiness.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Albion, IL.
- Electricity Price: $16.15 USD (median by state)
- Natural Gas Price: $16.59 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $244 per month
Living in Albion, IL could entail higher utility costs. Electricity costs sit at $16.15, while natural gas is priced at $16.59 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $244 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Albion is a financially viable option for your relocation.