Cost of Living in Volo, IL
Population 6,398 · Illinois · Data vintage 2023
(100 = US avg)
Volo 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 3.0% points to a labor market well on the tight side of the national distribution.
Located 20 miles northeast of Elgin, Volo falls within that metro's commuting orbit. Median home values run roughly 16% higher than Elgin's $252,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Volo
The median home value in Volo is $293,800 — 4% below the national median of $305,000. Median rent runs $2,229/month, 70% higher than the national median of $1,314/month. The median household income of $145,906/year is 96% higher than the US median of $74,580. The local unemployment rate is 3.0%, 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, Volo has a cost of living index of 126 versus the US average of 100, meaning it is 26% more expensive.
Volo 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 Volo, IL?
Volo has a cost index of 126 (100 = national average). It is 26% above the national average.
What is average rent in Volo, IL?
The median gross rent in Volo is $2,229 per month based on 2023 Census data.
What is the average home price in Volo?
The median home value in Volo is $293,800 according to Zillow and Census data.
What is the median income in Volo?
The median household income in Volo is $145,906 per year (2023 ACS 5-year estimates).
What is the sales tax in Volo, IL?
The combined state and local sales tax rate in Volo is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Volo, IL affordable?
Volo is above average in cost of living, with an index of 126 — about 26% higher than the national average.
Volo at a Glance
- Population
- 6,398
- Median Income
- $145,906
- Home Value
- $293,800
- Median Rent
- $2,229/mo
- Unemployment
- 3.0%
- Sales Tax
- 8.7%
Nearby Cities
Explore county-level cost of living data
Illinois Rankings
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