Cost of Living in Morris, IL
Housing
The housing market plays a significant role in determining the cost of living in Morris, IL.
- Housing Index: 101.8 / 100
- Median Home Price is: $200,000
- Average Rent (2 BR Apartment): $1219 per month
- Average Rent (2 BR House): $1325 per month
When considering a move to Morris, IL, the housing index stands at 101.8, indicating a moderately affordable market. With a median home price of 200000, purchasing property might be a sound investment, especially compared to the average rent of 1219 for a 2-bedroom apartment or 1325 for a house. For long-term financial stability, buying could be more advantageous than renting, particularly as home values historically appreciate. Additionally, it’s wise to factor in local amenities and job opportunities when making your decision.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Morris, 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 Morris, 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 Morris is a financially viable option for your relocation.