Cost of Living in Rankin, IL

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18%
Overall NAT. AVG.
2%
Groceries NAT. AVG.
60%
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 Rankin Illinois National
Cost of living8298100
Groceries98100100
Health care98100100
Housing4095100
Transportation99101100
Utilities9799100
Lifestyle & Entertainment103100100
Household Items102100100
Education & Childcare100100100
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Homes For Sale In Rankin, IL

property for sale

40598 State Route 49

Rankin, IL
property for sale

North Rd

Rossville, IL
property for sale

40980 State Route 49

Rankin, IL
property for sale

415 E 5th Ave

Rankin, IL

Cost Of Living Quick Facts

  • The cost of living in Rankin is 17% lower than the Illinois average
  • The cost of living in Rankin is 18% lower than the national average
  • Rankin housing is 60% lower 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 Rankin

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Compare Rankin, IL Cost of Living

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      Transportation index
      Utilities index
      Lifestyle index
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      Educare index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$80,841$6,737$1,886$2,425
      Renters$0$0$0$0

      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.
      Ludlow, IL4428118.7%
      Hoopeston, IL5,3838217.8%
      Thawville, IL2328217.8%
      Milford, IL1,2728217.6%
      Wellington, IL2448317.4%
      Rankin, IL5358218.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Huntington, AR5357822.3%
      McArthur, CA53511312.9%
      Fillmore, IN5358713.2%
      New Ross, IN5358613.7%
      Parkerfield, KS535936.9%
      Rankin, IL5358218.4%
      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.
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