Cost of Living in Hampshire, IL

Get 300+ Local Insights for Any Address in Hampshire, IL

Get Access to 300+ Local Data Points
C
14%
Overall NAT. AVG.
1%
Groceries NAT. AVG.
47%
Housing NAT. AVG.
Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index Hampshire Illinois National
Cost of living11498100
Groceries99100100
Health care101100100
Housing14795100
Transportation102101100
Utilities10199100
Lifestyle & Entertainment97100100
Household Items100100100
Education & Childcare102100100
Does this Area Fit Your Budget? Local Insights Report
  • Know the community before you call it home
  • Compare multiple areas side by side
  • Access over 300 data points for any address
Local Insights Report

Homes For Sale In Hampshire, IL

property for sale

10N800 Highland Trl

Hampshire, IL
property for sale

2632 Ross St

Hampshire, IL
property for sale

1107 Briar Glen Ct

Hampshire, IL
property for sale

789 Mesa Ln

Pingree Grove, IL

Cost Of Living Quick Facts

  • The cost of living in Hampshire is 16% higher than the Illinois average
  • The cost of living in Hampshire is 14% higher than the national average
  • Hampshire housing is 47% higher than the national average
  • Illinois general sales tax is 22% higher than the national average
  • Illinois state income tax is 91% higher than the national average

Most Affordable Places to Live in and Around Hampshire

See all the best places to live around Hampshire

Compare Hampshire, IL Cost of Living

City Image
    City Default Image
      vs
      How would you rate the cost of living in Hampshire?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Hampshire?
      Write a review to give others more information about this area.
      See all Hampshire poll results

      The best places in Illinois

      Here are the best places to live in IllinoisSafest States In The USCheck out the 10 safest cities in IllinoisSee the best places to live in Hampshire
      Best Places in Illinois

      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index
      Lifestyle index
      Household index
      Educare index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$169,872$14,156$3,963$5,097
      Renters$114,204$9,517$2,665$3,426
      The affordability of the housing market in Hampshire, IL as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Hampshire homeowners, the median income is $169,872. This indicates that a monthly maximum of $3,963 should be spent by homeowners on all housing related costs. Renters have a median income of $114,204. This indicates that renters would have a maximum of $2,665 for their rent related monthly costs.

      Illinois Sales Tax

      State General Sales Tax With Max Surtax
      Illinois 6.25% 10.25%

      Illinois Income Tax

      State Income Tax (Low) Income Tax (High)
      Illinois 4.95% 4.95%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Garden Prairie, IL2718218.1%
      Kingston, IL1,230973.3%
      Marengo, IL8,096973.1%
      Genoa, IL5,209972.8%
      DeKalb, IL44,075982.2%
      Hampshire, IL6,08011414.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Chena Ridge, AK6,08112121.0%
      Pictou, Subd. B, NS6,082n/a 
      Kingston, TN6,077945.9%
      West Hattiesburg, MS6,083928.5%
      Morris Plains, NJ6,07616262.4%
      Hampshire, IL6,08011414.4%
      Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
      General
      For Professionals
      Follow Us
      AV on Twitter AV on Facebook
      © AreaVibes Inc. 2010-2026