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This cost of living calculator is tailored for Illinois (IL) residents. Illinois has a state income tax rate of 4.95%, a sales tax rate of 6.25%, and an average effective property tax rate of 2.07%. The median household income is $72,200 and the median home price is $265,000.
Illinois's cost of living index is 93.4, below the national average of 100, making it a more affordable state to live in. Use this calculator to make informed financial decisions based on Illinois's specific economic conditions.
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Compare all plans and annual billing| Category | Weight | New York | Chicago | Difference |
|---|---|---|---|---|
Housing | 40% | $30,000 | $11,929 | -$18,071 |
Groceries | 15% | $11,250 | $10,086 | -$1,164 |
Transportation | 15% | $11,250 | $9,779 | -$1,471 |
Healthcare | 15% | $11,250 | $10,841 | -$409 |
Utilities | 15% | $11,250 | $7,275 | -$3,975 |
| Total | 100% | $75,000 | $42,914 | -$32,086 |
This calculator uses a composite cost-of-living index based on five weighted categories: Housing (40%), Groceries (15%), Transportation (15%), Healthcare (15%), and Utilities (15%).
Index values are relative to the US national average of 100. A city with an index of 150 is roughly 50% more expensive than the national average. Data reflects approximate 2024 cost-of-living estimates and may vary based on individual spending patterns.