Cost of Living in Lincoln, IL
Population 13,406 · Illinois · Data vintage 2023
(100 = US avg)
Lincoln is a smaller Illinois community of around 13000 residents, where median household incomes of $54,390 and housing costs ($112,000 for a typical home) give the local cost-of-living profile a distinctly small-town shape.
Located 30 miles northeast of Springfield, Lincoln falls within that metro's commuting orbit. Median home values run roughly 28% lower than Springfield's $155,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Lincoln
The median home value in Lincoln is $111,600 — 63% below the national median of $305,000. Median rent runs $804/month, 39% lower than the national median of $1,314/month. The median household income of $54,390/year is 27% lower than the US median of $74,580. The local unemployment rate is 4.2%, 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, Lincoln has a cost of living index of 46 versus the US average of 100, meaning it is 54% less expensive.
🏠 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 Lincoln, IL?
Lincoln has a cost index of 46 (100 = national average). It is 54% below the national average.
What is average rent in Lincoln, IL?
The median gross rent in Lincoln is $804 per month based on 2023 Census data.
What is the average home price in Lincoln?
The median home value in Lincoln is $111,600 according to Zillow and Census data.
What is the median income in Lincoln?
The median household income in Lincoln is $54,390 per year (2023 ACS 5-year estimates).
What is the sales tax in Lincoln, IL?
The combined state and local sales tax rate in Lincoln is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Lincoln, IL affordable?
Yes, Lincoln is generally considered affordable, with a cost of living index of 46 — about 54% below the US national average of 100.
Lincoln at a Glance
- Population
- 13,406
- Median Income
- $54,390
- Home Value
- $111,600
- Median Rent
- $804/mo
- Unemployment
- 4.2%
- Sales Tax
- 8.7%
Nearby Cities
Explore county-level cost of living data
Illinois Rankings
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