Cost of Living in Fayette County, Illinois
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Fayette County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Fayette County ranks #1,204 of 3,144 counties for affordability (top 38%)
Data Story
About Cost of Living in Fayette County, Illinois
Fayette rents squeeze local budgets
Renters in Fayette County dedicate 15.6% of their income to housing costs—above the national 30% affordability threshold but reasonable for rural Illinois. The median income of $57,113 trails the national average by nearly $18,000, making that $740 monthly rent feel heavier than in wealthier counties.
Below-average affordability in Illinois
Fayette's 15.6% rent-to-income ratio ranks it among the less affordable Illinois counties, exceeding the state average of 14.7% and placing pressure on renters. The gap reflects both lower-than-average household incomes and modest wage growth typical of downstate agricultural communities.
Struggling alongside regional peers
Fayette's rent-to-income ratio of 15.6% mirrors the affordability strain in Franklin County (17.3%) and slightly exceeds Greene County (15.7%), though rents themselves ($740) remain lower than Ford County ($836). Neighboring Effingham County stands out as notably more affordable at 11.7%, suggesting a gap in local wage competitiveness.
Income pressure visible in numbers
Fayette households earn $57,113 annually, directing $740 monthly toward rent (15.6% of income) or $667 for mortgages—a tight squeeze compared to state averages. The median home value of $114,700 remains accessible for buyers, but lower incomes leave little margin for unexpected expenses.
Fayette works if you own outright
Fayette County offers cheapest mortgage costs in this comparison ($667/month) and low home values ($114,700), making it appealing if you arrive with equity or seek affordability over wage growth. Compare with Effingham or Grundy if job market strength matters to your relocation decision.
Cost of Living Advisory: Fayette County
Affordability Verdict
Fayette County is affordable for renters, with a median gross rent of $740/month representing approximately 15.5% of median household income. The rent burden (GRAPI) stands at 25.0%.
Rent vs. Own
The median rent in Fayette County is $740/month, while owner costs run $667/month. Owning saves approximately $73/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $29,600/year. For owner costs at the 28% rule, the required income is roughly $28,586/year. With a median household income of $57,113, most households can comfortably afford rent here. Notably, 25.0% of renter households in Fayette County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Fayette County sits 7% less expensive than Coles County ($793/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Fayette County
Rent Burden
15.5%
of gross income
Max Housing (28% Rule)
$1,333
per month
Owner Cost Burden
14.0%
of gross income
You can likely afford the median home in Fayette County
Median home value is $114,700. Estimated monthly cost: $916 vs. your max of $1,333.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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