States › Illinois › Belvidere

Is Belvidere, IL expensive to live in?

OKRent takes 21 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,21231% lower than U.S. average
💵 Families earn per year (2026)$69,593about $5,799/month · 20% lower than U.S. average
🔑 House price$158,90052% lower than U.S. average

Rent is lower than in 75% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards.

How much money do I need?

To rent here comfortably, you should earn about $48,480 a year. That is $23 an hour at a full-time job.

Is rent cheaper than other Illinois cities?

Yes. Rent here is cheaper than in most of Illinois. It is number 93 of 334 cities from cheapest to most expensive.

Belvidere
$1,212
Morton Grove
$2,393
Zion
$1,366
Melrose Park
$1,333
Homer Glen
$1,991
Alton
$1,138
South Elgin
$1,664

How much do households earn in Belvidere?

Under $25k
15.2%
$25k–50k
29.3%
$50k–100k
35.3%
$100k–150k
11.1%
$150k+
6.5%

Share of households by yearly income. 17.6% of households earn $100,000 or more.

Rent by apartment size in Belvidere

SizeBelvidereU.S. average
1 bedroom$633$1,324
2 bedrooms$1,205$1,509
3 bedrooms$1,564$1,698

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Belvidere overall?

Everyday prices in Illinois overall are same as the U.S. average (index 100.0, U.S. = 100).

Housing
94
Goods (food, clothes…)
104
Utilities
85
Other services
100
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Belvidere, so the Illinois figure is shown.

Taxes and bills in Belvidere

🏛️ Property tax$3,466a year · 2.18% of home value · U.S. $3,119
⚡ Electric bill$111a month (typical) · U.S. $156

Life in Belvidere

Commute to work24.3 minU.S.: 26.4 min
College degree12.8%U.S.: 35.7%
Own their home70.9%U.S.: 65.2%
Below poverty line14.6%U.S.: 12.5%
Unemployment7%U.S.: 5.2%

Is it cheaper to rent or buy in Belvidere?

Buying is cheaper month to month: about $109 a month less than renting.

Renting
$1,212
Owning
$1,103

Owning assumes a typical $158,900 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $15,890 for the down payment.

Frequently asked questions

What is the average rent in Belvidere, IL?

Renting in Belvidere costs a median of about $1,212 a month in 2026, including utilities. The Illinois median is $1,517.

How much do I need to make to live in Belvidere?

To keep rent under 30% of income, you need about $48,480 a year, or $23 an hour at a full-time job.

Is Belvidere cheap or expensive?

Belvidere is rated OK: rent takes 20.9% of the typical household income of $69,593. It ranks 93rd cheapest of 334 Illinois cities we track.

How much are property taxes in Belvidere?

The median homeowner in Belvidere pays $3,466 a year in property taxes, about 2.18% of the median home value.

Is Belvidere more expensive than the national average?

Overall prices in Illinois are same as the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Belvidere?

The median home value in Belvidere is $158,900, about 2.3 times the typical yearly household income.

24,752 people live in Belvidere. Numbers are typical (middle) values.