Cost of Living in Belvidere, IL
Population 24,510 · Illinois · Data vintage 2023
(100 = US avg)
Belvidere sits on the smaller end of the Illinois city distribution. That scale shapes the housing market, the labor pool, and the services available to residents in ways the data below makes visible. At 7.1%, the local unemployment rate runs well above the US figure, pointing to structural rather than cyclical labor-market issues.
Geographically, Belvidere sits roughly 9 miles east of Rockford. Median home values run roughly 27% higher than Rockford's $121,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Belvidere
The median home value in Belvidere is $153,100 — 50% below the national median of $305,000. Median rent runs $943/month, 28% lower than the national median of $1,314/month. The median household income of $62,462/year is 16% lower than the US median of $74,580. The local unemployment rate is 7.1%, above the national average of 4.8%. Illinois's top state income tax rate is 5.0% and the combined sales tax is 8.7%. Overall, Belvidere has a cost of living index of 59 versus the US average of 100, meaning it is 41% less expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
Frequently Asked Questions
What is the cost of living in Belvidere, IL?
Belvidere has a cost index of 59 (100 = national average). It is 41% below the national average.
What is average rent in Belvidere, IL?
The median gross rent in Belvidere is $943 per month based on 2023 Census data.
What is the average home price in Belvidere?
The median home value in Belvidere is $153,100 according to Zillow and Census data.
What is the median income in Belvidere?
The median household income in Belvidere is $62,462 per year (2023 ACS 5-year estimates).
What is the sales tax in Belvidere, IL?
The combined state and local sales tax rate in Belvidere is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Belvidere, IL affordable?
Yes, Belvidere is generally considered affordable, with a cost of living index of 59 — about 41% below the US national average of 100.
Belvidere at a Glance
- Population
- 24,510
- Median Income
- $62,462
- Home Value
- $153,100
- Median Rent
- $943/mo
- Unemployment
- 7.1%
- Sales Tax
- 8.7%
Nearby Cities
Explore county-level cost of living data
Illinois Rankings
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