Cost of Living in Genoa, IL
Population 5,685 · Illinois · Data vintage 2023
(100 = US avg)
Housing costs in Genoa stay well under national norms: a median home value of $202,000 against median household incomes of $79,343 gives the city one of the more comfortable price-to-income ratios in Illinois.
Geographically, Genoa sits roughly 20 miles west of Elgin. Median home values run roughly 20% lower than Elgin's $252,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Genoa
The median home value in Genoa is $201,600 — 34% below the national median of $305,000. Median rent runs $1,004/month, 24% lower than the national median of $1,314/month. The median household income of $79,343/year is 6% higher than the US median of $74,580. The local unemployment rate is 5.8%, 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, Genoa has a cost of living index of 70 versus the US average of 100, meaning it is 30% less expensive.
Genoa has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities 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
Frequently Asked Questions
What is the cost of living in Genoa, IL?
Genoa has a cost index of 70 (100 = national average). It is 30% below the national average.
What is average rent in Genoa, IL?
The median gross rent in Genoa is $1,004 per month based on 2023 Census data.
What is the average home price in Genoa?
The median home value in Genoa is $201,600 according to Zillow and Census data.
What is the median income in Genoa?
The median household income in Genoa is $79,343 per year (2023 ACS 5-year estimates).
What is the sales tax in Genoa, IL?
The combined state and local sales tax rate in Genoa is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Genoa, IL affordable?
Yes, Genoa is generally considered affordable, with a cost of living index of 70 — about 30% below the US national average of 100.
Genoa at a Glance
- Population
- 5,685
- Median Income
- $79,343
- Home Value
- $201,600
- Median Rent
- $1,004/mo
- Unemployment
- 5.8%
- Sales Tax
- 8.7%
Nearby Cities
Explore county-level cost of living data
Illinois Rankings
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