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Cost of Living in Rantoul

Is it better to rent or buy in Rantoul? 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.

$48,548
$909/mo

Median in area: $909

$115,751

Median in area: $115,751

$23,150

If you Rent

🔑
$1,210 /mo
Base Rent$909
Est. Utilities$301
% of Income29.9%
Pre-tax Residual$2,836

If you Buy

🏠
$1,240 /mo
P&I (7.571%)$652
Taxes & Ins$287
Est. Utilities$301
% of Income30.6%
Pre-tax Residual$2,806

Cost of Living FAQs

Is it cheaper to rent or buy in Rantoul?›

Based on median housing data, renting is currently more affordable on a monthly basis in Rantoul. The estimated all-in monthly cost for renting is $1,210, while owning a median-priced home with a 20% down payment is roughly $1,240 per month (a difference of $30).

How much do utilities cost in Rantoul?›

The average monthly utility cost (electricity and natural gas) for a typical home in Rantoul is approximately $301. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Rantoul?›

To comfortably afford the median rent and utilities in Rantoul without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $48,400 per year.