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Cost of Living in McDonough County

Is it better to rent or buy in McDonough 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.

$56,109
$743/mo

Median in area: $743

$110,481

Median in area: $110,481

$22,096

If you Rent

🔑
$965 /mo
Base Rent$743
Est. Utilities$222
% of Income20.6%
Pre-tax Residual$3,711

If you Buy

🏠
$1,105 /mo
P&I (7.441%)$614
Taxes & Ins$269
Est. Utilities$222
% of Income23.6%
Pre-tax Residual$3,570

Compare Nearby Areas

See how McDonough County stacks up against neighboring areas.

countyHenderson County, IL
$814/mo
countyWarren County, IL
$779/mo
countyFulton County, IL
$819/mo
countySchuyler County, IL
$821/mo
countyHancock County, IL
$761/mo

Cost of Living FAQs

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

Based on median housing data, renting is currently more affordable on a monthly basis in McDonough County. The estimated all-in monthly cost for renting is $965, while owning a median-priced home with a 20% down payment is roughly $1,105 per month (a difference of $140).

How much do utilities cost in McDonough County?›

The average monthly utility cost (electricity and natural gas) for a typical home in McDonough County is approximately $222. This estimate uses local utility rate schedules combined with median energy consumption profiles.

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

To comfortably afford the median rent and utilities in McDonough County without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $38,600 per year.