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Cost of Living in Granite City

Is it better to rent or buy in Granite City? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$61,842
$946/mo

Median in area: $946

$103,179

Median in area: $103,179

$20,636

If you Rent

🔑
$1,186 /mo
Base Rent$946
Est. Utilities$240
% of Income23.0%
Pre-tax Residual$3,968

If you Buy

🏠
$1,059 /mo
P&I (7.537%)$579
Taxes & Ins$240
Est. Utilities$240
% of Income20.6%
Pre-tax Residual$4,094

Cost of Living FAQs

Is it cheaper to rent or buy in Granite City?›

Based on median housing data, buying is currently more affordable on a monthly basis in Granite City. The estimated all-in monthly cost for renting is $1,186, while owning a median-priced home with a 20% down payment is roughly $1,059 per month (a difference of $127).

How much do utilities cost in Granite City?›

The average monthly utility cost (electricity and natural gas) for a typical home in Granite City is approximately $240. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Granite City?›

To comfortably afford the median rent and utilities in Granite City without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $47,440 per year.