Cost of Living in Henry County, Illinois
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Henry County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Henry County ranks #1,642 of 3,142 counties for affordability (bottom 48%)
Sourced county brief
Henry County Median Home Value Reaches 151,600 Dollars
The median home value in Henry County was estimated at $151,600, a value that is $1,420 below the Illinois unweighted county mean of $153,020. Among renters, the official B25071 median gross rent as a percentage of household income (GRAPI) was 24.9 percent. This is 1.2 percentage points lower than the state unweighted county mean of 26.1 percent. The median gross rent for the county was $842, compared to the state unweighted county mean of $867. Selected monthly owner costs for owner-occupied units were $915, while the state unweighted county mean was $960. The median renter-household income was recorded at $43,052. These statistics represent the 2020-2024 5-year estimate period from the American Community Survey and do not include market predictions or historical trends. See ACS table B25077 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Henry County
Affordability Verdict
ACS B25071 estimates median gross rent at 24.9% of renter household income in Henry County, which is below the 30% affordability benchmark. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $842 per month; median selected monthly owner costs are $915. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $33,680 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The Illinois unweighted mean of county median rents is $867 per month. Henry County's $842 median is 2.9% below that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Henry County
Rent Burden
14.1%
of gross income
Max Housing (28% Rule)
$1,678
per month
Owner Cost Burden
15.3%
of gross income
You can likely afford the median home in Henry County
Median home value is $151,600. Estimated monthly cost: $1,210 vs. your max of $1,678.
Rent Affordability Guide
Income Needed Calculator
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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 (2020-2024). Data is informational only and is not personalized financial advice.
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