Cost of Living in Freeport, IL

Population 23,636 · Illinois · Data vintage 2023

Cost Index
(100 = US avg)

Page updated: April 2026 · Data vintage: 2023 ACS 5-Year

Sources: Census ACS·BLS·NOAA·EPA·Zillow · Methodology

At $48,181, median household incomes in Freeport land roughly 35% below the US median, a gap that tends to persist across local labor-market indicators.

Located 30 miles west of Rockford, Freeport falls within that metro's commuting orbit. Median home values run roughly 29% lower than Rockford's $121,000.

Cost Overview

Housing 28

Rent 58

Scale: 100 = US national average. Green < 90, Red > 110.

About the Cost of Living in Freeport

The median home value in Freeport is $86,100 — 72% below the national median of $305,000. Median rent runs $760/month, 42% lower than the national median of $1,314/month. The median household income of $48,181/year is 35% lower than the US median of $74,580. The local unemployment rate is 5.4%, 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, Freeport has a cost of living index of 40 versus the US average of 100, meaning it is 60% less expensive.

🏠 Housing

Median Home Value

$86,100

72% below avg

Zillow Home Value

$120,745

Zillow ZHVI

Median Rent

$760/mo

42% below avg

Zillow Rent

$905/mo

Zillow ZORI

Price-to-Rent Ratio

9.4x

Favors buying

Property Tax Rate

2.2%

Effective rate

HUD Fair Market Rents by Bedroom

Studio

$651

1 BR

$741

2 BR

$899

3 BR

$1,196

4 BR

$1,364

Owner-occupied 58.9%

Renter-occupied 41.1%

💰 Estimated Monthly Budget

Rent median rent

$760

Groceries national estimate

$400

Utilities local estimate

$88

Transportation local gas prices

$126

Estimated Total $1,374/mo

Estimates based on median data and national averages. Actual costs vary.

🛒 Food & Groceries

National BLS average prices (2023). Local prices may vary.

🥚

Eggs (dozen)

$0.548

🍞

White Bread (lb)

$1.912

🥩

Ground Beef (lb)

$5.61

🚗 Transportation

Avg Commute

17.8 min

34% below avg

Gas Price

$3.145/gal

0% below avg

Work From Home

9.6%

Commute Mode

Drove alone

74.1%

Carpooled

10.8%

Public transit

1.1%

Walked

2.6%

Bicycle

0.2%

Work from home

9.6%

⚡ Utilities

Electricity

$0.176/kWh

0% below avg

📋 Taxes

State Income Tax (flat) 5.0%

Total Sales Tax 8.7%

State rate 6.3%

Avg local rate 2.5%

Property Tax 2.2%

💼 Income & Employment

Median Household Income

$48,181

35% below avg

Per Capita Income

$30,223

Unemployment Rate

5.4%

13% above avg

Poverty Rate

18.2%

Labor Force Participation

58.1%

🎓 Education

Bachelor's degree+ 12.8%

Graduate degree 7.2%

👥 Demographics

Median Age 43.2

Male median age 41.6

Female median age 45.2

Frequently Asked Questions

What is the cost of living in Freeport, IL?

Freeport has a cost index of 40 (100 = national average). It is 60% below the national average.

What is average rent in Freeport, IL?

The median gross rent in Freeport is $760 per month based on 2023 Census data.

What is the average home price in Freeport?

The median home value in Freeport is $86,100 according to Zillow and Census data.

What is the median income in Freeport?

The median household income in Freeport is $48,181 per year (2023 ACS 5-year estimates).

What is the sales tax in Freeport, IL?

The combined state and local sales tax rate in Freeport is 8.7%. The Illinois state income tax top rate is 5.0%.

Is Freeport, IL affordable?

Yes, Freeport is generally considered affordable, with a cost of living index of 40 — about 60% below the US national average of 100.

Freeport at a Glance

Population: 23,636
Median Income: $48,181
Home Value: $86,100
Median Rent: $760/mo
Unemployment: 5.4%
Sales Tax: 8.7%

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