Chicago suburb named one of the most affordable cities in the US, report finds

Chicago suburb named one of the most affordable cities in the US | ChicagoNOW

A Chicago suburb landed on a new list of the most affordable places to live in the U.S. for 2025, according to a report by The Motley Fool.

JOLIET, Ill. - A Chicago suburb landed on a new list of the most affordable places to live in the U.S. for 2025, according to a report by The Motley Fool.

Ranking seventh out of 10 cities, Joliet stood out for its relatively low cost of living paired with a median household income above the national average. The report estimated Joliet's annual cost of living at $68,881 with a median household income of $86,054.

Texas had the most cities in the top 10 with four.

Decatur in central Illinois ranked No. 1 among the cheapest places to live in the U.S. with a 79.1 cost-of-living index according to the study. A cost-of-living index of 100 represents the national average.

What they're saying:

Jack Caporal, research director at The Motley Fool, said low housing costs helped Joliet land in the top 10.

"Joliet’s cost-of-living index is about six points below the national benchmark and the median household income there is 5% above the national median. Its low cost of living is driven by housing costs being 20 points below the national average, according to the Council for Economic and Community Research," Caporal said.

Methodology

To determine its rankings, The Motley Fool analyzed data from the Council for Community and Economic Research, the Bureau of Labor Statistics and the U.S. Census Bureau.

The study focused on how far a city’s median income could stretch based on local prices for housing, groceries, transportation, healthcare and other essentials. Cities with a cost-of-living more than 10% above the national average were excluded from consideration.