Safe Rate Local

Cost of Living in McLean County

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

← Back to McLean County Hub

Rent vs. Buy Affordability Calculator

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

$86,760
$1,045/mo

Median in area: $1,045

$213,525

Median in area: $213,525

$42,705

If you Rent

🔑
$1,224 /mo
Base Rent$1,045
Est. Utilities$179
% of Income16.9%
Pre-tax Residual$6,006

If you Buy

🏠
$1,825 /mo
P&I (7.182%)$1,157
Taxes & Ins$489
Est. Utilities$179
% of Income25.2%
Pre-tax Residual$5,405

Compare Nearby Areas

See how McLean County stacks up against neighboring areas.

countyFord County, IL
$871/mo
countyTazewell County, IL
$978/mo
countyWoodford County, IL
$1,021/mo
countyDe Witt County, IL
$803/mo
countyLivingston County, IL
$876/mo

Cost of Living FAQs

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

Based on median housing data, renting is currently more affordable on a monthly basis in McLean County. The estimated all-in monthly cost for renting is $1,224, while owning a median-priced home with a 20% down payment is roughly $1,825 per month (a difference of $601).

How much do utilities cost in McLean County?›

The average monthly utility cost (electricity and natural gas) for a typical home in McLean County is approximately $179. This estimate uses local utility rate schedules combined with median energy consumption profiles.

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

To comfortably afford the median rent and utilities in McLean County without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $48,960 per year.