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Cost of Living in Knox County

Is it better to rent or buy in Knox County? 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.

$59,358
$790/mo

Median in area: $790

$120,379

Median in area: $120,379

$24,076

If you Rent

🔑
$1,017 /mo
Base Rent$790
Est. Utilities$227
% of Income20.6%
Pre-tax Residual$3,930

If you Buy

🏠
$1,186 /mo
P&I (7.459%)$671
Taxes & Ins$288
Est. Utilities$227
% of Income24.0%
Pre-tax Residual$3,761

Compare Nearby Areas

See how Knox County stacks up against neighboring areas.

countyStark County, IL
$725/mo
countyPeoria County, IL
$1,018/mo
countyHenry County, IL
$860/mo
countyFulton County, IL
$819/mo
countyWarren County, IL
$779/mo

Cost of Living FAQs

Is it cheaper to rent or buy in Knox County?›

Based on median housing data, renting is currently more affordable on a monthly basis in Knox County. The estimated all-in monthly cost for renting is $1,017, while owning a median-priced home with a 20% down payment is roughly $1,186 per month (a difference of $169).

How much do utilities cost in Knox County?›

The average monthly utility cost (electricity and natural gas) for a typical home in Knox County is approximately $227. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Knox County?›

To comfortably afford the median rent and utilities in Knox County without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $40,680 per year.