Cost of Living in Harvard, IL
Population 9,875 · Illinois · Data vintage 2023
(100 = US avg)
Harvard offers a notably favorable income-to-housing ratio for its region. The typical home — $174,000 — costs less than 2.4 times median household income of $71,418, a threshold many coastal markets passed a decade ago. Unemployment has stayed elevated relative to the national figure — 6.3% as of the most recent ACS release — which shows up in household-income and poverty figures as well.
Located 25 miles east of Rockford, Harvard falls within that metro's commuting orbit. Median home values run roughly 44% higher than Rockford's $121,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Harvard
The median home value in Harvard is $174,000 — 43% below the national median of $305,000. Median rent runs $1,184/month, 10% lower than the national median of $1,314/month. The median household income of $71,418/year is 4% lower than the US median of $74,580. The local unemployment rate is 6.3%, 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, Harvard has a cost of living index of 70 versus the US average of 100, meaning it is 30% less expensive.
Harvard 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 Harvard, IL?
Harvard has a cost index of 70 (100 = national average). It is 30% below the national average.
What is average rent in Harvard, IL?
The median gross rent in Harvard is $1,184 per month based on 2023 Census data.
What is the average home price in Harvard?
The median home value in Harvard is $174,000 according to Zillow and Census data.
What is the median income in Harvard?
The median household income in Harvard is $71,418 per year (2023 ACS 5-year estimates).
What is the sales tax in Harvard, IL?
The combined state and local sales tax rate in Harvard is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Harvard, IL affordable?
Yes, Harvard is generally considered affordable, with a cost of living index of 70 — about 30% below the US national average of 100.
Harvard at a Glance
- Population
- 9,875
- Median Income
- $71,418
- Home Value
- $174,000
- Median Rent
- $1,184/mo
- Unemployment
- 6.3%
- Sales Tax
- 8.7%
Nearby Cities
Explore county-level cost of living data
Illinois Rankings
Similar Cost Cities
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