Photo: TheCatalyst31 · CC BY-SA 4.0Even on the area’s higher pay, Hinckley costs more to live in than 79% of U.S. towns
Up 5.1% in a year, 15% above the Illinois typical home.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the Chicago-Naperville-Elgin, IL-IN metro area ($91K). How TownRatings grades cost of living
The grade measures what housing costs against what households in the area earn. Hinckley’s area earns well above the typical U.S. town ($91K against $74K), but homes, rent and taxes here run higher still. Owners keep up better than renters: 28% of owners pay 30% or more of income for housing (typical U.S. town: 20%), against 58% of renters.
In dollars
- $342Ktypical home, 15% above the Illinois typical homeZillow, September 2026
- $1,910a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
- 104prices across the Chicago metro, where the U.S. is 100 (housing 112)BEA Regional Price Parities, 2024
In paychecks the grade
- 3.2 yrsof area income buys the typical home; the typical U.S. town: 3.3$91K, Chicago-area income
- 18%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 58%of renters pay 30%+ of income for housing; across Illinois: 48%Census 2020–24
- 28%of owners do; the typical U.S. town: 20%Census 2020–24
What kind of housing town is Hinckley?
Read from the numbers below. The page puts what stands out first.
What’s behind Hinckley’s grade
Measured against what households in the area earn, Hinckley is more affordable than 21% of U.S. towns. Property tax pulls the grade down most; home prices hold it up.
Values have outpaced Illinois: the typical Hinckley home is up 38.5% in five years, against 29.6% statewide (Zillow).
Up 38.5% in five years
Faster than Illinois (29.6%).
Show as a table
| January | Hinckley | Illinois |
|---|---|---|
| 2017 | $189,000 | $179,000 |
| 2018 | $200,000 | $188,000 |
| 2019 | $214,000 | $193,000 |
| 2020 | $221,000 | $198,000 |
| 2021 | $235,000 | $213,000 |
| 2022 | $255,000 | $233,000 |
| 2023 | $274,000 | $246,000 |
| 2024 | $290,000 | $260,000 |
| 2025 | $313,000 | $275,000 |
| 2026 | $336,000 | $287,000 |
| September 2026 | $342,000 | $296,000 |
A typical Hinckley home worth $184K in October 2016 is worth about $342K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through September 2026.
Too few sales to read the market
Only 7 homes sold in May 2026, the latest month in Redfin’s figures: too few to describe the market or quote a median sale price.
A typical home costs 3.2 years of area income
The calculator starts from the area income the grade uses. Switch to Hinckley’s own median, or type yours.
That’s $40K short of a typical Hinckley home.
A two-bedroom rents for about $1,910 a month here, $500 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Hinckley’s typical property tax (2.17% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $1,910
Renters already here pay a median of $1,355, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Chicago-Joliet-Naperville, IL HUD Metro FMR Area): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
No new homes permitted in 2025
No permits for new homes were issued in Hinckley in 2025. The last year with any was 2024 (7 new homes).
Between the 2010 and 2020 censuses, Hinckley's population fell by 64 even though 3 new homes were permitted. Homes are holding fewer people: households are getting smaller, or more homes are used part of the year.
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 2 | 2 | 0 | $800,000 |
| 2025 | 0 | 0 | 0 | — |
| 2024 | 7 | 7 | 0 | $2.8 million |
| 2023 | 1 | 1 | 0 | $320,000 |
| 2022 | 0 | 0 | 0 | — |
| 2021 | 1 | 1 | 0 | $395,000 |
| 2020 | 2 | 2 | 0 | $280,000 |
| 2019 | 2 | 2 | 0 | $160,000 |
| 2018 | 1 | 1 | 0 | $200,000 |
| 2017 | 0 | 0 | 0 | — |
| 2016 | 0 | 0 | 0 | — |
| 2015 | 0 | 0 | 0 | — |
| 2014 | 0 | 0 | 0 | — |
| 2013 | 0 | 0 | 0 | — |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 0 | 0 | 0 | — |
| 2008 | 0 | 0 | 0 | — |
| 2007 | 6 | 6 | 0 | $1.5 million |
| 2006 | 1 | 1 | 0 | $130,000 |
| 2005 | 4 | 4 | 0 | $618,000 |
| 2004 | 3 | 3 | 0 | $655,000 |
| 2003 | 2 | 2 | 0 | $280,000 |
| 2002 | 12 | 12 | 0 | $1.6 million |
| 2001 | 17 | 15 | 2 | $1.7 million |
| 2000 | 0 | 0 | 0 | — |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Property tax runs above the Illinois norm
The median bill is $6,323 (Illinois: $5,298), 2.17% of a home’s value a year, against 2.01% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
The rest of a budget near Hinckley
Only figures published free for the whole country, each labeled with the area it covers: the Chicago-Naperville-Elgin, IL-IN metro area, or Illinois. Groceries follow the goods price level; nobody publishes them town by town.
| Cost | Here | Compared with | Area | Source |
|---|---|---|---|---|
| Prices overall U.S. = 100 | 104 | IL 100 | metro | BEA, 2024 |
| Goods (groceries, clothing, cars…) U.S. = 100 | 107 | IL 104 | metro | BEA, 2024 |
| Utilities U.S. = 100 | 84 | IL 85 | metro | BEA, 2024 |
| Other services U.S. = 100 | 100 | IL 100 | metro | BEA, 2024 |
Price levels: U.S. Bureau of Economic Analysis, Regional Price Parities 2024 (metro area and state). Electricity: U.S. Energy Information Administration, Electric Power Monthly, table 5.6.A.
Hinckley and its neighbors
One source per column.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, September 2026 | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| Hinckley | C− | $342K | $292K | 2.17% | $1,910 |
Questions about the cost of living in Hinckley
Is Hinckley expensive to live in?
Measured against what households in the area earn, Hinckley costs more than 79% of U.S. towns: a C− for cost of living. The typical home costs 3.2 years of the median household income of the Chicago-Naperville-Elgin, IL-IN metro area ($91K).
How much does a house cost in Hinckley?
About $342K, Zillow’s typical value for September 2026, up 5.1% in a year. The Illinois typical home is $296K.
What salary do you need to live in Hinckley?
To buy the typical home with 20% down at 6.3%, about $103,000 a year, keeping the payment (about $2,410 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $76,000.
How much is rent in Hinckley?
HUD puts a two-bedroom at about $1,910 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $1,355 (Census 2020–24).
What are property taxes in Hinckley?
The median bill is $6,323 a year, 2.17% of the median home value (Illinois: $5,298, 2.01%), from the Census 2020–24.
Are home prices in Hinckley going up?
Yes: up 5.1% in the past year and 38.5% in five years, against 29.6% across Illinois (Zillow).
Neighbors talk housing
What Hinckley buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, September 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.