Cost of Living in Sherman, IL
Population 4,211 · Illinois · Data vintage 2023
(100 = US avg)
Sherman 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 2.9% points to a labor market well on the tight side of the national distribution.
Located 7 miles north of Springfield, Sherman falls within that metro's commuting orbit. Median home values run roughly 88% higher than Springfield's $155,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Sherman
The median home value in Sherman is $291,300 — 4% below the national median of $305,000. Median rent runs $1,565/month, 19% higher than the national median of $1,314/month. The median household income of $147,025/year is 97% higher than the US median of $74,580. The local unemployment rate is 2.9%, 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, Sherman has a cost of living index of 105 versus the US average of 100, meaning it is 5% more expensive.
Sherman 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 Sherman, IL?
Sherman has a cost index of 105 (100 = national average). It is 5% above the national average.
What is average rent in Sherman, IL?
The median gross rent in Sherman is $1,565 per month based on 2023 Census data.
What is the average home price in Sherman?
The median home value in Sherman is $291,300 according to Zillow and Census data.
What is the median income in Sherman?
The median household income in Sherman is $147,025 per year (2023 ACS 5-year estimates).
What is the sales tax in Sherman, IL?
The combined state and local sales tax rate in Sherman is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Sherman, IL affordable?
Sherman is near the national average in terms of cost of living, with an index of 105 (100 = US average).
Sherman at a Glance
- Population
- 4,211
- Median Income
- $147,025
- Home Value
- $291,300
- Median Rent
- $1,565/mo
- Unemployment
- 2.9%
- Sales Tax
- 8.7%
Nearby Cities
Explore county-level cost of living data
Illinois Rankings
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