States › Illinois › Hampshire

Is Hampshire, IL expensive to live in?

ExpensiveRent takes 34 cents of every $1 people earn here.
🏠 Rent per month (2026)$2,86363% higher than U.S. average
💵 Families earn per year (2026)$102,213about $8,518/month · 17% higher than U.S. average
🔑 House price$329,8001% lower than U.S. average

Rent here is among the highest 10% in the country. A typical house costs about 3.2 years of household income. Most homes (83.3%) are owned, so rentals can be hard to find.

How much money do I need?

To rent here comfortably, you should earn about $114,520 a year. That is $55 an hour at a full-time job.

Is rent cheaper than other Illinois cities?

No. Rent here is more expensive than in most of Illinois. It is number 321 of 334 cities from cheapest to most expensive.

Hampshire
$2,863
Olney
$719
Monmouth
$610
Rock Falls
$834
Glenwood
$1,651
Gilberts
$2,102
Clarendon Hills
$1,263

How much do households earn in Hampshire?

Under $25k
5.1%
$25k–50k
12.3%
$50k–100k
45.8%
$100k–150k
20.3%
$150k+
16.0%

Share of households by yearly income. 36.3% of households earn $100,000 or more.

Rent by apartment size in Hampshire

SizeHampshireU.S. average
2 bedrooms$2,789$1,509
3 bedrooms$2,922$1,698

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

How expensive is Hampshire 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 Hampshire, so the Illinois figure is shown.

Taxes and bills in Hampshire

🏛️ Property tax$7,705a year · 2.34% of home value · U.S. $3,119
⚡ Electric bill$131a month (typical) · U.S. $156

Life in Hampshire

Commute to work28.2 minU.S.: 26.4 min
College degree28.6%U.S.: 35.7%
Own their home83.3%U.S.: 65.2%
Below poverty line7.8%U.S.: 12.5%
Unemployment2.5%U.S.: 5.2%

Is it cheaper to rent or buy in Hampshire?

Buying is cheaper month to month: about $575 a month less than renting.

Renting
$2,863
Owning
$2,288

Owning assumes a typical $329,800 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $32,980 for the down payment.

Frequently asked questions

What is the average rent in Hampshire, IL?

Renting in Hampshire costs a median of about $2,863 a month in 2026, including utilities. The Illinois median is $1,517.

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

To keep rent under 30% of income, you need about $114,520 a year, or $55 an hour at a full-time job.

Is Hampshire cheap or expensive?

Hampshire is rated Expensive: rent takes 33.6% of the typical household income of $102,213. It ranks 321st cheapest of 334 Illinois cities we track.

How much are property taxes in Hampshire?

The median homeowner in Hampshire pays $7,705 a year in property taxes, about 2.34% of the median home value.

Is Hampshire 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 Hampshire?

The median home value in Hampshire is $329,800, about 3.2 times the typical yearly household income.

8,524 people live in Hampshire. Numbers are typical (middle) values.