Cost of Living in Summit, IL
Population 10,896 · Illinois · Data vintage 2023
(100 = US avg)
Summit is a smaller Illinois community of around 11000 residents, where median household incomes of $60,417 and housing costs ($225,000 for a typical home) give the local cost-of-living profile a distinctly small-town shape. Unemployment has stayed elevated relative to the national figure — 7.0% as of the most recent ACS release — which shows up in household-income and poverty figures as well.
Geographically, Summit sits roughly 7 miles west of Chicago. Median home values run roughly 29% lower than Chicago's $315,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Summit
The median home value in Summit is $224,800 — 26% below the national median of $305,000. Median rent runs $1,012/month, 23% lower than the national median of $1,314/month. The median household income of $60,417/year is 19% lower than the US median of $74,580. The local unemployment rate is 7.0%, 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, Summit has a cost of living index of 75 versus the US average of 100, meaning it is 25% 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
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Summit, IL?
Summit has a cost index of 75 (100 = national average). It is 25% below the national average.
What is average rent in Summit, IL?
The median gross rent in Summit is $1,012 per month based on 2023 Census data.
What is the average home price in Summit?
The median home value in Summit is $224,800 according to Zillow and Census data.
What is the median income in Summit?
The median household income in Summit is $60,417 per year (2023 ACS 5-year estimates).
What is the sales tax in Summit, IL?
The combined state and local sales tax rate in Summit is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Summit, IL affordable?
Yes, Summit is generally considered affordable, with a cost of living index of 75 — about 25% below the US national average of 100.
Summit at a Glance
- Population
- 10,896
- Median Income
- $60,417
- Home Value
- $224,800
- Median Rent
- $1,012/mo
- Unemployment
- 7.0%
- Sales Tax
- 8.7%
Nearby Cities
Explore county-level cost of living data
Illinois Rankings
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