salaryRent is lower than in 58% of U.S. cities. A typical house costs about 3.2 years of household income. Commutes are short, about 18.1 minutes. It is a highly educated city: 63.3% of adults have a college degree.
How much money do I need?
To rent here comfortably, you should earn about $60,080 a year. That is $29 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 163 of 334 cities from cheapest to most expensive.
How much do households earn in Savoy?
Share of households by yearly income. 37.7% of households earn $100,000 or more.
Rent by apartment size in Savoy
| Size | Savoy | U.S. average |
|---|---|---|
| 1 bedroom | $1,255 | $1,324 |
| 2 bedrooms | $1,101 | $1,509 |
| 3 bedrooms | $910 | $1,698 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Savoy overall?
Everyday prices in Illinois overall are same as the U.S. average (index 100.0, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Savoy, so the Illinois figure is shown.
Taxes and bills in Savoy
Life in Savoy
Is it cheaper to rent or buy in Savoy?
Renting is cheaper right now: about $720 a month less.
Owning assumes a typical $320,300 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $32,030 for the down payment.
Frequently asked questions
What is the average rent in Savoy, IL?
Renting in Savoy costs a median of about $1,502 a month in 2026, including utilities. The Illinois median is $1,517.
How much do I need to make to live in Savoy?
To keep rent under 30% of income, you need about $60,080 a year, or $29 an hour at a full-time job.
Is Savoy cheap or expensive?
Savoy is rated Cheap: rent takes 18.2% of the typical household income of $99,185. It ranks 163rd cheapest of 334 Illinois cities we track.
How much are property taxes in Savoy?
The median homeowner in Savoy pays $6,351 a year in property taxes, about 1.98% of the median home value.
Is Savoy 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 Savoy?
The median home value in Savoy is $320,300, about 3.2 times the typical yearly household income.
8,968 people live in Savoy. Numbers are typical (middle) values.