Key Economic Benchmarks
Median Household Income
$94,811$7,901 per month · U.S. Census Bureau ACS 5-YearFair market rent & 30% rule in Piatt County, IL
Official HUD Fair Market Rents evaluated against local household income benchmarks.
2026 HUD Fair Market Rent Schedule: Piatt County, IL
Official FY2026 HUD Fair Market Rents for Champaign-Urbana, IL HUD Metro FMR Area. Under the federal 30% housing affordability standard, housing costs are sustainable when they consume 30% or less of gross household income.
| Unit Size | Monthly Rent | Annual Rent | 30% Rule Min. Income | % of Median Income |
|---|---|---|---|---|
| Studio / Efficiency | $941 | $11,292 | $37,640 | 11.9% |
| 1-Bedroom Apartment | $946 | $11,352 | $37,840 | 12% |
| 2-Bedroom ApartmentBenchmark | $1,122 | $13,464 | $44,880 | 14.2% |
| 3-Bedroom Home | $1,436 | $17,232 | $57,440 | 18.2% |
| 4-Bedroom Home | $1,486 | $17,832 | $59,440 | 18.8% |
50/30/20 Living Budget in Piatt County, IL
Based on the local median household income of $94,811/year ($7,901/month), here is how a balanced budget allocates expenses:
Take-Home Pay & Tax Explorer in Illinois
Explore net income after federal income tax, FICA, and Illinois state income tax based on the local median baseline.
Related Regional & Financial Profiles
Compare earnings and living costs across Illinois with official federal datasets:
Frequently Asked Questions About Living in Piatt County, IL
What is the median household income in Piatt County, IL?
According to the latest U.S. Census Bureau ACS 5-Year survey, the median household income in Piatt County, IL is $94,811 per year (approximately $7,901 per month).
What is the average rent in Piatt County, IL?
According to HUD Fair Market Rent (FMR) benchmarks for 2026, standard monthly rents in Piatt County, IL are $941 for a studio, $946 for 1 bedroom, $1,122 for 2 bedrooms, $1,436 for 3 bedrooms, and $1,486 for 4 bedrooms.
How does the cost of living in Piatt County, IL compare to the national average?
Based on the Bureau of Economic Analysis (BEA) Regional Price Parity index, the general price level in Piatt County, IL is 92.7 (7.3% lower than the U.S. national baseline of 100.0).
How much do you need to earn to comfortably afford rent in Piatt County, IL?
Under the standard 30% housing affordability standard, renting a median 2-bedroom home ($1,122/month) in Piatt County, IL requires a minimum gross household income of $44,880 per year ($3,740 per month).
What is a balanced 50/30/20 monthly budget in Piatt County, IL?
For a typical household earning the median income of $94,811/year ($7,901/month) in Piatt County, IL, a balanced 50/30/20 budget allocates $3,950/month to essential needs (rent, utilities, groceries), $2,370/month to discretionary spending, and $1,580/month to savings and debt repayment.
What are typical electricity and utility costs in Piatt County, IL?
Residential electricity rates in Illinois average 19.9¢ per kWh according to the U.S. Energy Information Administration (EIA). For an average home using 900 kWh per month, the estimated electric bill is approximately $179 per month.