States › Illinois › Harvard

Is Harvard, IL expensive to live in?

CheapRent takes 20 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,21331% lower than U.S. average
💵 Families earn per year (2026)$72,925about $6,077/month · 16% lower than U.S. average
🔑 House price$175,40047% 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 $48,520 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 94 of 334 cities from cheapest to most expensive.

Harvard
$1,213
Frankfort Square
$1,794
Rochelle
$983
Sauk Village
$1,661
LaSalle
$1,156
Peru
$800
Steger
$1,284

How much do households earn in Harvard?

Under $25k
12.0%
$25k–50k
27.3%
$50k–100k
35.7%
$100k–150k
18.4%
$150k+
3.6%

Share of households by yearly income. 22.0% of households earn $100,000 or more.

Rent by apartment size in Harvard

SizeHarvardU.S. average
1 bedroom$988$1,324
2 bedrooms$1,195$1,509
3 bedrooms$1,473$1,698
4 bedrooms$1,891$2,098

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

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

Taxes and bills in Harvard

🏛️ Property tax$4,431a year · 2.53% of home value · U.S. $3,119
⚡ Electric bill$131a month (typical) · U.S. $156

Life in Harvard

Commute to work26.2 minU.S.: 26.4 min
College degree18.7%U.S.: 35.7%
Own their home59.7%U.S.: 65.2%
Below poverty line11.8%U.S.: 12.5%
Unemployment7.6%U.S.: 5.2%

Is it cheaper to rent or buy in Harvard?

About the same. Renting and owning cost within $4 of each other each month.

Renting
$1,213
Owning
$1,217

Owning assumes a typical $175,400 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $17,540 for the down payment.

Frequently asked questions

What is the average rent in Harvard, IL?

Renting in Harvard costs a median of about $1,213 a month in 2026, including utilities. The Illinois median is $1,517.

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

To keep rent under 30% of income, you need about $48,520 a year, or $23 an hour at a full-time job.

Is Harvard cheap or expensive?

Harvard is rated Cheap: rent takes 20.0% of the typical household income of $72,925. It ranks 94th cheapest of 334 Illinois cities we track.

How much are property taxes in Harvard?

The median homeowner in Harvard pays $4,431 a year in property taxes, about 2.53% of the median home value.

Is Harvard 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 Harvard?

The median home value in Harvard is $175,400, about 2.4 times the typical yearly household income.

9,598 people live in Harvard. Numbers are typical (middle) values.