Cost of Living in Pike County, Illinois
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Pike County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Pike County ranks #1,014 of 3,144 counties for affordability (top 32%)
Data Story
About Cost of Living in Pike County, Illinois
Pike County's bargain rents shine
Pike County offers some of the lowest rents in this group at just $659 monthly, yielding a 13.6% rent-to-income ratio comfortably below both state (14.7%) and national averages. Despite a median household income of $58,029—below the national figure—residents here get genuine affordability.
Pike ranks highly for Illinois affordability
Pike County's 13.6% rent-to-income ratio positions it well within Illinois's more affordable counties, outperforming the state average by over one percentage point. The county's $659 median rent is the lowest among these eight, offering relief for budget-conscious renters.
Pike undercuts Perry and Pope
Pike County's $659 rent stands as the cheapest option here, beating Perry's $714 and Pope's $438 (though Pope's unusually low rent reflects its rural character). Pike homeowners pay $765 monthly, making ownership competitive with neighboring counties despite lower median incomes.
Bargain hunting pays off here
Pike County renters spend just $659 monthly while homeowners pay $765 for a $100,100 median home, among the least expensive in the region. Together, housing accounts for roughly 14% of the median $58,029 household income—manageable but leaving less cushion than higher-income counties.
Pike County for budget-conscious movers
Pike County delivers Illinois's lowest rents in this comparison, making it ideal for renters prioritizing cost control. If you earn a moderate income but need maximum affordability, Pike's $659 rents offer genuine relief.
Cost of Living Advisory: Pike County
Affordability Verdict
Pike County is affordable for renters, with a median gross rent of $659/month representing approximately 13.6% of median household income. The rent burden (GRAPI) stands at 27.0%.
Rent vs. Own
At $659/month rent versus $765/month in owner costs, renting is roughly $106/month cheaper — a 14% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $26,360/year. For owner costs at the 28% rule, the required income is roughly $32,786/year. With a median household income of $58,029, most households can comfortably afford rent here. Notably, 27.0% of renter households in Pike County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Illinois, Pike County is less affordable than Morgan County by roughly 7% ($659/mo vs $710/mo).
Affordability Calculator
See how your income compares to housing costs in Pike County
Rent Burden
13.6%
of gross income
Max Housing (28% Rule)
$1,354
per month
Owner Cost Burden
15.8%
of gross income
You can likely afford the median home in Pike County
Median home value is $100,100. Estimated monthly cost: $799 vs. your max of $1,354.
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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