The 61832 zip code in Danville tops our ranking of the most affordable places to live in Illinois.
We looked at 367 zip codes in the state, evaluating home values, rental costs, energy rates, property taxes, and five other affordability indicators. We used the data we gathered to calculate our proprietary Affordability Score for each zip code.
Top 10 most affordable places to live in Illinois
| Rank | City | Affordability Score | Median home value | Rental costs |
|---|---|---|---|---|
| 1 | Danville 🥇 | 100.0 | $56,687 | $746 |
| 2 | Quincy🥈 | 98.2 | $126,745 | $883 |
| 3 | Rock Island 🥉 | 98.0 | $121,460 | $995 |
| 4 | Decatur | 97.6 | $107,830 | $956 |
| 5 | Springfield | 97.3 | $100,182 | $1,020 |
| 6 | Moline | 96.4 | $140,099 | $1,196 |
| 7 | Alton | 96.1 | $107,810 | $989 |
| 8 | Wood River | 95.5 | $117,333 | $1,050 |
| 9 | Marion | 95.5 | $164,177 | $986 |
| 10 | Pekin | 95.3 | $123,333 | $961 |
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1. Danville
Here's why the 61832 zip code in Danville is Illinois's most affordable place to live.
🔎 Key data about Danville
| Data point | Value | Rank (out of 367 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 100.0 | No. 1 | N/A |
| Median home value | $56,687[1] | No. 4 | -$250,181 |
| Home affordability ratio | 1.3 | No. 2 | -2.3 |
| Home value five-year change | 29.9%[2] | No. 76 | -4% |
| Home value one-year forecast | -0.8%[3] | No. 28 | -0.9% |
| Rental costs | $746[4] | No. 1 | -$1,042 |
| Rent affordability ratio | 1.71% | No. 40 | -0.4% |
| Median household income | $43,660[5] | No. 347 | -$41,971 |
| Property taxes | $1,557[6] | No. 6 | -$4,169 |
| Energy costs | $0.11 kWh[7] | No. 5 | $0.00 |
Danville's 61832 zip code is the cheapest place to live in Illinois, leading the 367 markets we evaluated.
The median home value is $56,687, making it the 4th-cheapest housing market in the state. Forecasts project a -0.8% change in home values in the next year. Rent in the zip code averages $746 per month, which is the 40th cheapest amount in Illinois.
The median property tax for homeowners in Danville is $1,557 per household, the No. 6 ranked market in Illinois.
Residents pay $0.11 per kWh of electricity, which ranks No. 5 among Illinois markets.
2. Quincy
The 62301 zip code is the 2nd-cheapest place to live in Illinois.
🔎 Key data about Quincy
| Data point | Value | Rank (out of 367 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 98.2 | No. 2 | N/A |
| Median home value | $126,745[8] | No. 49 | -$180,123 |
| Home affordability ratio | 2.5 | No. 65 | -1.1 |
| Home value five-year change | 6%[9] | No. 5 | -27% |
| Home value one-year forecast | -2.3%[10] | No. 5 | -2.4% |
| Rental costs | $883[11] | No. 5 | -$905 |
| Rent affordability ratio | 1.74% | No. 48 | -0.3% |
| Median household income | $50,712[12] | No. 328 | -$34,919 |
| Property taxes | $1,950[13] | No. 26 | -$3,776 |
| Energy costs | $0.11 kWh[14] | No. 5 | $0.00 |
Quincy's 62301 zip code has a median home value of $126,745, which is the 5th-cheapest housing market in Illinois. You can rent for an average of $883 per month. That's the 5th-cheapest price in the state.
The average household income in the zip code is $50,712, which ranks 328th-highest in the state.
Homeowners in Quincy pay a median property tax of $1,950 per year, making it the 26th-most affordable market in Illinois.
Quincy ranks No. 5 among Illinois energy markets. You'll pay $0.11 per kWh of electricity.
3. Rock Island
The 3rd-cheapest place to live in Illinois is Rock Island's 61201 zip code.
🔎 Key data about Rock Island
| Data point | Value | Rank (out of 367 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 98.0 | No. 3 | N/A |
| Median home value | $121,460[15] | No. 43 | -$185,408 |
| Home affordability ratio | 2.2 | No. 41 | -1.4 |
| Home value five-year change | 22%[16] | No. 39 | -12% |
| Home value one-year forecast | -1.7%[17] | No. 13 | -1.8% |
| Rental costs | $995[18] | No. 12 | -$793 |
| Rent affordability ratio | 1.79% | No. 55 | -0.3% |
| Median household income | $55,613[19] | No. 300 | -$30,018 |
| Property taxes | $2,855[20] | No. 63 | -$2,871 |
| Energy costs | $0.07 kWh[21] | No. 1 | -$0.04 |
The No. 43 cheapest housing in Illinois is Rock Island's 61201 zip code, with a median home value of $121,460. Rents in the market average $995 per month, making it the 12th-most affordable rental market in the state.
The median property tax for households in Rock Island is $2,855, which makes it the 63rd-cheapest place in Illinois. Rock Island ranks No. 1 among Illinois markets by energy costs. Residents pay $0.07 per kWh of electricity.
4. Decatur
The 62521 zip code in Decatur comes in at No. 4 on our list of the cheapest places to live in Illinois.
🔎 Key data about Decatur
| Data point | Value | Rank (out of 367 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 97.6 | No. 4 | N/A |
| Median home value | $107,830[22] | No. 32 | -$199,038 |
| Home affordability ratio | 1.7 | No. 12 | -1.9 |
| Home value five-year change | 33%[23] | No. 107 | -1% |
| Home value one-year forecast | 0.2%[24] | No. 298 | 0.1% |
| Rental costs | $956[25] | No. 8 | -$832 |
| Rent affordability ratio | 1.52% | No. 17 | -0.6% |
| Median household income | 62955[26] | No. 265 | -$22,676 |
| Property taxes | $2,478[27] | No. 43 | -$3,248 |
| Energy costs | $0.11 kWh[28] | No. 5 | $0.00 |
The No. 32 cheapest housing market in Illinois is Decatur's 62521 zip code, where the median home value is $107,830. Renters here pay an average of $956 per month.
When it comes to energy costs, Decatur ranks 5th among Illinois markets. Residents pay $0.11 per kWh of electricity.
The median property tax for households in the zip code is $2,478, which makes it the 43rd-cheapest market in Illinois.
5. Springfield
The 62702 zip code in Springfield ranks No. 5 among Illinois's most affordable places to live.
🔎 Key data about Springfield
| Data point | Value | Rank (out of 367 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 97.3 | No. 5 | N/A |
| Median home value | $100,182[29] | No. 23 | -$206,686 |
| Home affordability ratio | 1.9 | No. 26 | -1.7 |
| Home value five-year change | 30%[30] | No. 75 | -4% |
| Home value one-year forecast | -1.4%[31] | No. 20 | -1.5% |
| Rental costs | $1,020[32] | No. 15 | -$768 |
| Rent affordability ratio | 1.97% | No. 77 | -0.1% |
| Median household income | $51,814[33] | No. 325 | -$33,817 |
| Property taxes | $1,849[34] | No. 18 | -$3,877 |
| Energy costs | $0.11 kWh[35] | No. 5 | $0.00 |
Springfield's 62702 zip code has a median home value of $100,182, the 23rd-cheapest market in the state. Forecasts project a -1.4% change in home values in the next year.
The median property tax per household in Springfield is $1,849. It's the 18th-cheapest market by tax rate in Illinois.
6. Moline
The No. 6 most affordable place to live in Illinois is the 61265 zip code.
🔎 Key data about Moline
| Data point | Value | Rank (out of 367 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 96.4 | No. 6 | N/A |
| Median home value | $140,099[36] | No. 57 | -$166,769 |
| Home affordability ratio | 2.2 | No. 43 | -1.4 |
| Home value five-year change | 19%[37] | No. 29 | -15% |
| Home value one-year forecast | -1.7%[38] | No. 13 | -1.8% |
| Rental costs | $1,196[39] | No. 33 | -$592 |
| Rent affordability ratio | 1.88% | No. 65 | -0.2% |
| Median household income | $63,755[40] | No. 258 | -$21,876 |
| Property taxes | $3,274[41] | No. 84 | -$2,452 |
| Energy costs | $0.07 kWh[42] | No. 1 | -$0.04 |
The back half of our top 10 kicks off with Moline's 61265 zip code, which has the 57th-cheapest home values in Illinois. The median home value is $140,099. Rents average $1,196 per month, making it the 33rd-most affordable rental market in the state.
Residents pay $0.07 per kWh of electricity. It's the 1st-cheapest energy market.
7. Alton
Alton's 62002 zip code is the 7th-cheapest place to live in Illinois.
🔎 Key data about Alton
| Data point | Value | Rank (out of 367 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 96.1 | No. 7 | N/A |
| Median home value | $107,810[43] | No. 31 | -$199,058 |
| Home affordability ratio | 2.0 | No. 28 | -1.6 |
| Home value five-year change | 28%[44] | No. 67 | -5% |
| Home value one-year forecast | 0.6%[45] | No. 325 | 0.5% |
| Rental costs | $989[46] | No. 11 | -$799 |
| Rent affordability ratio | 1.80% | No. 56 | -0.3% |
| Median household income | $55,041[47] | No. 305 | -$30,590 |
| Property taxes | $2,122[48] | No. 34 | -$3,604 |
| Energy costs | $0.11 kWh[49] | No. 5 | $0.00 |
You'll find the 31st-cheapest home values in Illinois in Alton's 62002 zip code. The median value: $107,810. Renters in Alton pay an average of $989 per month.
Homeowners in Alton pay a median property tax of $2,122 per year, which is Illinois's 34th-most affordable market.
The average household income is $55,041, which ranks 305th-highest in the state.
8. Wood River
The 8th-cheapest place to live in Illinois is Wood River's 62095 zip code.
🔎 Key data about Wood River
| Data point | Value | Rank (out of 367 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 95.5 | No. 8 | N/A |
| Median home value | $117,333[50] | No. 38 | -$189,535 |
| Home affordability ratio | 1.9 | No. 22 | -1.7 |
| Home value five-year change | 43%[51] | No. 243 | 10% |
| Home value one-year forecast | 0.6%[52] | No. 325 | 0.5% |
| Rental costs | $1,050[53] | No. 16 | -$738 |
| Rent affordability ratio | 1.71% | No. 41 | -0.4% |
| Median household income | $61,415[54] | No. 271 | -$24,216 |
| Property taxes | $1,946[55] | No. 25 | -$3,780 |
| Energy costs | $0.11 kWh[56] | No. 5 | $0.00 |
The 38th-cheapest housing market in Illinois is Wood River's 62095 zip code, with a median home value of $117,333. Renters pay an average of $1,050 per month, the No. 16 rental market in the state.
The median property tax for households in Wood River is $1,946, which makes it the 25th-cheapest place in Illinois. The average household income of $61,415 ranks 271st.
9. Marion
Marion's 62959 zip code sneaks into the top ten of Illinois's most affordable places to live.
🔎 Key data about Marion
| Data point | Value | Rank (out of 367 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 95.5 | No. 9 | N/A |
| Median home value | $164,177[57] | No. 76 | -$142,691 |
| Home affordability ratio | 2.7 | No. 79 | -0.9 |
| Home value five-year change | 30%[58] | No. 80 | -3% |
| Home value one-year forecast | -1.9%[59] | No. 8 | -2.0% |
| Rental costs | $986[60] | No. 10 | -$802 |
| Rent affordability ratio | 1.59% | No. 24 | -0.5% |
| Median household income | $61,850[61] | No. 270 | -$23,781 |
| Property taxes | $2,709[62] | No. 54 | -$3,017 |
| Energy costs | $0.11 kWh[63] | No. 5 | $0.00 |
The 76th-cheapest housing market in Illinois is Marion's 62959 zip code, where the median home value is $164,177. Renters pay an average of $986 per month. It's the state's 10th-cheapest rental market.
The median property tax for households within the zip code is $2,709, which makes it the 54th-cheapest property tax rate in Illinois.
10. Pekin
The final spot on our list of the most affordable places to live in Illinois goes to the 61554 zip code in Pekin.
🔎 Key data about Pekin
| Data point | Value | Rank (out of 367 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 95.3 | No. 10 | N/A |
| Median home value | $123,333[64] | No. 46 | -$183,535 |
| Home affordability ratio | 2.1 | No. 35 | -1.5 |
| Home value five-year change | 40%[65] | No. 192 | 6% |
| Home value one-year forecast | 0.3%[66] | No. 307 | 0.2% |
| Rental costs | $961[67] | No. 9 | -$828 |
| Rent affordability ratio | 1.63% | No. 32 | -0.5% |
| Median household income | $58,813[68] | No. 286 | -$26,818 |
| Property taxes | $2,460[69] | No. 41 | -$3,266 |
| Energy costs | $0.11 kWh[70] | No. 5 | $0.00 |
The 46th-most affordable market in Illinois is Pekin's 61554 zip code. The median home value is $123,333. Rent in the market costs $961 per month on average, making it the 9th-most affordable rental market in Illinois.
The median property tax for households in Pekin is $2,460, which is the 41st-cheapest property tax rate in the state.
Pekin ranks No. 5 among Illinois markets by energy costs, with households paying $0.11 per kWh of electricity.
How we ranked the most affordable places in Illinois
We evaluated 367 zip codes in Illinois with a population over 10,000 on nine metrics. We then assigned each market an Affordability Score based on its weighted and combined rankings.
Often the zip code we identify will represent an entire city or portion of a city.
Occasionally the zip code we identify will encompass an area that includes one or more small towns. In these cases, the data we’ve gathered applies to the entire zip code, not just the single town we’re using to help identify the zip code's location.
If you’re looking to move to one of these affordable places, we recommend doing additional research to make sure the costs in the area — and the quality of life it offers — meet your specific needs.
Methodology: What is an Affordability Score?
Our proprietary Affordability Score is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the affordability of a particular zip code. It takes into account these key data points for each zip code.
- Median home value: The median home value for each zip code comes from the Zillow Home Value Index. The lower the median home value relative to the median value in Illinois, the higher our score on this component. We assign a weight of 23.8% to median home value.
- Home affordability ratio. The home affordability ratio is the typical median home value divided by the median household income in the zip code, which reveals the number of years of household income needed to afford a home in that zip code. A lower ratio is better because it means more households can afford a home. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 23.8% to the home affordability ratio.
- Home value five-year change: The home value five-year change is the amount that the median home value in the zip code has risen or fallen during the last five years. Our data comes from the Zillow Home Value Index. We assign a weight of 4.8% to the home value five-year change.
- Home value one-year forecast: The home value one-year forecast comes from Zillow Forecast data. It projects how much home values in the zip code are forecasted to change in the next year. We assign a weight of 4.8% to the home value one-year forecast.
- Rental costs. The rental costs are the observed rents in the zip code, sourced from the Zillow Observed Rent Index. The index includes "listed rents that fall into the 40th to 60th percentile range for all homes and apartments in a given region." We assign a weight of 11.9% to rental costs.
- Median household income: The inflation-adjusted median household income figures for the zip code comes from the U.S. Census American Community Survey. We assign a weight of 4.8% to median household income.
- Rent affordability ratio. The rent affordability ratio is the ratio of rental costs divided by median household income, which provides the percentage of household income needed to pay a typical month’s rent in the zip code. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 11.9% to the rent affordability ratio.
- Property taxes: The property tax figures are the median real estate taxes paid in the zip code, sourced from the U.S. Census American Community Survey. The lower the property tax rate relative to the Illinois average, the higher our score on this component. We assign a weight of 7.1% to property taxes.
- Energy costs: The energy costs are the costs of a kilowatt hour (kWh) of residential electricity in the zip code, sourced from the U.S. Department of Energy. The lower the cost of electricity relative to the Illinois average, the higher our score on this component. We assign a weight of 7.1% to energy costs.
