Cost of Living in Hoffman Estates, IL
Population 51,175 · Census ACS 2020–2024 5-year estimates
The median rent in Hoffman Estates, IL is $1,734/month, 36% higher than the Illinois median and 23% higher than the U.S. median. The median home value is $351,900, 6% higher than the national median. Households earn a median of $106,806 a year, 28% higher than the state median.
Affordability
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Hoffman Estates vs. Illinois vs. U.S.
| Hoffman Estates | Illinois | U.S. | |
|---|---|---|---|
| Median rent | $1,734 | $1,274 | $1,413 |
| Median home value | $351,900 | $263,300 | $332,700 |
| Median household income | $106,806 | $83,390 | $80,734 |
| Homeownership rate | 74.2% | 67.1% | 65.2% |
| Bachelor's degree or higher | 48.5% | 37.8% | 35.7% |
| Poverty rate | 7.1% | 11.8% | 12.5% |
| Unemployment rate | 4.2% | 5.8% | 5.2% |
| Work from home | 18.1% | 15.9% | 15.1% |
| Median age | 39.2 | 39.0 | 38.9 |
FAQ
What is the average rent in Hoffman Estates, IL?
The median gross rent in Hoffman Estates, IL is $1,734 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Hoffman Estates, IL?
Using the common 30% rule, renting a median-priced home takes about $69,360 a year in gross income.
Is Hoffman Estates, IL expensive to live in?
Rent there is 23% higher than the U.S. median, and the median home costs about 3.3 times the median household income.
Other cities in Illinois
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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