Cost of Living in Hampshire, IL
Population 8,351 · Illinois · Data vintage 2023
(100 = US avg)
Hampshire 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. An unemployment rate of 1.8% points to a labor market well on the tight side of the national distribution.
Located 11 miles northwest of Elgin, Hampshire falls within that metro's commuting orbit. Median home values run roughly 25% higher than Elgin's $252,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Hampshire
The median home value in Hampshire is $316,200 — 4% above the national median of $305,000. Median rent runs $2,356/month, 79% higher than the national median of $1,314/month. The median household income of $107,774/year is 45% higher than the US median of $74,580. The local unemployment rate is 1.8%, below 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, Hampshire has a cost of living index of 134 versus the US average of 100, meaning it is 34% more expensive.
Hampshire 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
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Hampshire, IL?
Hampshire has a cost index of 134 (100 = national average). It is 34% above the national average.
What is average rent in Hampshire, IL?
The median gross rent in Hampshire is $2,356 per month based on 2023 Census data.
What is the average home price in Hampshire?
The median home value in Hampshire is $316,200 according to Zillow and Census data.
What is the median income in Hampshire?
The median household income in Hampshire is $107,774 per year (2023 ACS 5-year estimates).
What is the sales tax in Hampshire, IL?
The combined state and local sales tax rate in Hampshire is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Hampshire, IL affordable?
Hampshire is above average in cost of living, with an index of 134 — about 34% higher than the national average.
Hampshire at a Glance
- Population
- 8,351
- Median Income
- $107,774
- Home Value
- $316,200
- Median Rent
- $2,356/mo
- Unemployment
- 1.8%
- Sales Tax
- 8.7%
Nearby Cities
Explore county-level cost of living data
Illinois Rankings
Similar Cost Cities
Cities in other states with comparable housing costs