Cost of Living in Cherry Valley, IL
Population 3,268 · Illinois · Data vintage 2023
(100 = US avg)
Buyers in Cherry Valley can reasonably expect a home to cost less than three years of household income — $222,000 against $74,766 in typical earnings — a ratio that has collapsed to 5:1 or worse in much of the country.
Geographically, Cherry Valley sits roughly 5 miles east of Rockford. Median home values run roughly 84% higher than Rockford's $121,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Cherry Valley
The median home value in Cherry Valley is $222,400 — 27% below the national median of $305,000. Median rent runs $871/month, 34% lower than the national median of $1,314/month. The median household income of $74,766/year is equal to than the US median of $74,580. The local unemployment rate is 5.1%, 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, Cherry Valley has a cost of living index of 70 versus the US average of 100, meaning it is 30% less expensive.
Cherry Valley is within a protected area
This area is within or adjacent to protected federal land. Residential housing is concentrated in nearby towns — here are the closest communities with full cost of living data:
🏠 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
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Cherry Valley, IL?
Cherry Valley has a cost index of 70 (100 = national average). It is 30% below the national average.
What is average rent in Cherry Valley, IL?
The median gross rent in Cherry Valley is $871 per month based on 2023 Census data.
What is the average home price in Cherry Valley?
The median home value in Cherry Valley is $222,400 according to Zillow and Census data.
What is the median income in Cherry Valley?
The median household income in Cherry Valley is $74,766 per year (2023 ACS 5-year estimates).
What is the sales tax in Cherry Valley, IL?
The combined state and local sales tax rate in Cherry Valley is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Cherry Valley, IL affordable?
Yes, Cherry Valley is generally considered affordable, with a cost of living index of 70 — about 30% below the US national average of 100.
Cherry Valley at a Glance
- Population
- 3,268
- Median Income
- $74,766
- Home Value
- $222,400
- Median Rent
- $871/mo
- Unemployment
- 5.1%
- Sales Tax
- 8.7%
Nearby Cities
Explore county-level cost of living data
Illinois Rankings
Similar Cost Cities
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