States › Illinois › Mahomet

Is Mahomet, IL expensive to live in?

CheapRent takes 16 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,6705% lower than U.S. average
💵 Families earn per year (2026)$127,895about $10,658/month · 47% higher than U.S. average
🔑 House price$299,10010% lower than U.S. average

Rent is higher than in 51% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Most homes (79.5%) are owned, so rentals can be hard to find.

How much money do I need?

To rent here comfortably, you should earn about $66,800 a year. That is $32 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 204 of 334 cities from cheapest to most expensive.

Mahomet
$1,670
Winfield
$1,651
Highland
$1,106
Wood River
$1,297
Peru
$800
Lyons
$1,325
Riverdale
$1,307

How much do households earn in Mahomet?

Under $25k
4.8%
$25k–50k
9.0%
$50k–100k
37.1%
$100k–150k
22.3%
$150k+
23.7%

Share of households by yearly income. 46.0% of households earn $100,000 or more.

Rent by apartment size in Mahomet

SizeMahometU.S. average
2 bedrooms$1,412$1,509
3 bedrooms$2,380$1,698

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

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

Taxes and bills in Mahomet

🏛️ Property tax$6,537a year · 2.19% of home value · U.S. $3,119
⚡ Electric bill$232a month (typical) · U.S. $156

Life in Mahomet

Commute to work20.6 minU.S.: 26.4 min
College degree54.2%U.S.: 35.7%
Own their home79.5%U.S.: 65.2%
Below poverty line3.8%U.S.: 12.5%
Unemployment3.5%U.S.: 5.2%

Is it cheaper to rent or buy in Mahomet?

Renting is cheaper right now: about $405 a month less.

Renting
$1,670
Owning
$2,075

Owning assumes a typical $299,100 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $29,910 for the down payment.

Frequently asked questions

What is the average rent in Mahomet, IL?

Renting in Mahomet costs a median of about $1,670 a month in 2026, including utilities. The Illinois median is $1,517.

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

To keep rent under 30% of income, you need about $66,800 a year, or $32 an hour at a full-time job.

Is Mahomet cheap or expensive?

Mahomet is rated Cheap: rent takes 15.7% of the typical household income of $127,895. It ranks 204th cheapest of 334 Illinois cities we track.

How much are property taxes in Mahomet?

The median homeowner in Mahomet pays $6,537 a year in property taxes, about 2.19% of the median home value.

Is Mahomet 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 Mahomet?

The median home value in Mahomet is $299,100, about 2.3 times the typical yearly household income.

10,049 people live in Mahomet. Numbers are typical (middle) values.