Housing costs in Colchester?
A typical home costs
$85,100, which is 74.8% less expensive than the national average of
$338,100 and 64.8% less expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Colchester costs
$730 per month, which is 49.0% cheaper than the national average of
$1,430 and 72.6% cheaper than the state average of
$1,260.
Can I afford Colchester?
To live comfortably in Colchester (zip 62326), Illinois, a minimum annual income of
$16,200 for a family, and
$24,000 for a single person is recommended.
What does A.I. say about Colchester?
The cost of living in 62326 Colchester, IL is slightly lower than the national average. According to BestPlaces, groceries are around 5% lower than the national average, while housing costs are about 30% lower. This means that a three-bedroom apartment in Colchester can be found for around $725 a month on average, which is substantially cheaper than many other areas. Other expenses such as utilities and transportation are also relatively low compared to the national average due to the smaller population size and the fact that local residents tend to rely heavily on their own vehicles for transportation. All of these factors make 62326 Colchester a great place to live with a low cost of living.