Cost of Living in Urbana, IL
2026 data for Urbana, IL • Population: 42,461
12% less expensive than the US average (100)
1-Bedroom Rent
Average monthly rent for a one-bedroom apartment
2-Bedroom Rent
Average monthly rent for a two-bedroom apartment
Median Income
Median household income in Urbana
Population
Estimated population of Urbana
How Far Does Your Salary Go?
A salary in Urbana has different purchasing power than the national average. Use the equivalence below to understand what your salary is worth compared to the US average.
Formula: Your salary in Urbana ÷ COL index × 100 = equivalent national salary. A $56,818 national salary gives you the same purchasing power as $50,000 in Urbana.
Housing Affordability Analysis
Rent as % of Income
For a 1-bedroom apartment at median income. Experts suggest under 30% is affordable.
Monthly Rent to Income
Ratio of monthly income to monthly 1-bedroom rent.
What is a Cost of Living Index?
A cost of living index measures the relative cost of goods and services in a city compared to a national baseline (set at 100). An index of 150 means the city is 50% more expensive than average. An index of 80 means it's 20% cheaper than average.
The index typically includes housing, groceries, utilities, transportation, and healthcare—the major expense categories for households.
Compare with Other Cities
See how Urbana's cost of living stacks up against nearby and similar cities.
Financial Tools to Explore
Use these Pulsafi calculators to plan your finances based on Urbana's cost of living.
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Cost of Living Guide for Urbana, IL
Overview
Urbana has a cost of living index of 88, making it 12% less expensive than the national average. With a population of 42,461 and a median household income of $38,234, understanding the true cost of living here is essential for financial planning.
Housing Market
The housing market in Urbana reflects its cost of living index. A one-bedroom apartment averages $800 per month, while a two-bedroom apartment costs approximately $1,000 per month. For renters, this typically consumes 25.1% of the median household income—within the recommended 30% threshold.
Income and Affordability
With a median household income of $38,234, Urbana residents earn slightly below the national median. When factoring in the local cost of living, a salary of $85,227in Urbana provides the same purchasing power as $75,000 nationally.
Moving to Urbana
Whether you're relocating for work or considering a move, understanding the cost of living in Urbana is crucial. Use our calculators to determine if your salary can support your desired lifestyle here. Consider not just rent, but also food, utilities, transportation, and healthcare when budgeting.
Saving and Investing
Once you understand your cost of living in Urbana, you can better plan your savings and investment strategy. Our financial tools help you determine how much you can realistically save each month and optimize your financial goals.
Frequently Asked Questions About Cost of Living in Urbana
How does the cost of living in Urbana compare to the national average?
Urbana has a cost of living index of 88, which means it's 12% less expensive than the US average of 100. This affects everything from housing to groceries and utilities.
Is a $85,227 salary good for Urbana?
A salary in Urbana has different purchasing power than elsewhere. A $85,227 salary in Urbana provides the same purchasing power as $75,000 nationally. Compare your salary to the median income of $38,234 to gauge your earning potential.
Can you afford to rent in Urbana?
With a median household income of $38,234, a one-bedroom apartment averaging $800 per month consumes 25.1% of income. Financial experts recommend keeping rent under 30% of gross income—this is within that threshold.
Related Data for Urbana, IL
Explore take-home pay, affordability, mortgages, and retirement benchmarks around Urbana's median income.
Take-home pay on $40,000 in Illinois
Federal tax, state tax, Social Security, and Medicare breakdown.
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Tax brackets on $40,000 in Illinois
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$150,000 mortgage in Illinois
Monthly payment, property tax, and total interest at typical rates.
Retirement at 30 earning $40,000
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Emergency fund target for $40,000
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