Cost of Living in Spring Valley, IL
Population 5,508 · Illinois · Data vintage 2023
(100 = US avg)
Buyers in Spring Valley can reasonably expect a home to cost less than three years of household income — $125,000 against $63,964 in typical earnings — a ratio that has collapsed to 5:1 or worse in much of the country.
Geographically, Spring Valley is about 45 miles northeast of Peoria, the nearest large metro. Median home values run roughly 16% lower than Peoria's $150,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Spring Valley
The median home value in Spring Valley is $125,000 — 59% below the national median of $305,000. Median rent runs $1,022/month, 22% lower than the national median of $1,314/month. The median household income of $63,964/year is 14% lower than the US median of $74,580. The local unemployment rate is 3.9%, 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, Spring Valley has a cost of living index of 56 versus the US average of 100, meaning it is 44% less expensive.
Spring Valley is within a protected area
This area is within or adjacent to protected federal land. Residential housing is concentrated in nearby towns — here are the closest communities 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 Spring Valley, IL?
Spring Valley has a cost index of 56 (100 = national average). It is 44% below the national average.
What is average rent in Spring Valley, IL?
The median gross rent in Spring Valley is $1,022 per month based on 2023 Census data.
What is the average home price in Spring Valley?
The median home value in Spring Valley is $125,000 according to Zillow and Census data.
What is the median income in Spring Valley?
The median household income in Spring Valley is $63,964 per year (2023 ACS 5-year estimates).
What is the sales tax in Spring Valley, IL?
The combined state and local sales tax rate in Spring Valley is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Spring Valley, IL affordable?
Yes, Spring Valley is generally considered affordable, with a cost of living index of 56 — about 44% below the US national average of 100.
Spring Valley at a Glance
- Population
- 5,508
- Median Income
- $63,964
- Home Value
- $125,000
- Median Rent
- $1,022/mo
- Unemployment
- 3.9%
- Sales Tax
- 8.7%
Explore county-level cost of living data
Illinois Rankings
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