Cost of living in Illinois: Average salary and income levels. Housing costs and rental prices. Utility expenses variations. Grocery and food pricing. Transportation costs and options. Healthcare expenses and availability. Education costs and school options. State and local taxation rates. Entertainment and dining out expenses. Regional cost of living variations.
Average salary and income levels.
The average household income in Illinois is $108,873, which is 3% higher than the US average, while the median household income is $78,433, also 4% higher than the US median. Household incomes peak during mid-career years, with householders aged 45-64 earning a median income of $95,019, and decrease for those aged 65 and over to $55,569. For more detailed statistics and analysis, you can visit Income by Zipcode in Illinois to explore comprehensive income data across different regions of the state.
Housing costs and rental prices.
In Illinois, particularly in Chicago, the average rent has risen significantly, with current average rents at $2,200 per month, up over $600 in nearly a decade. Average rents for one-bedroom apartments are around $1,880, two-bedroom apartments over $2,400, and three- or four-bedroom apartments cost over $3,000 per month. For more detailed insights about the rising rent costs, visit the Illinois Policy website.
Utility expenses variations.
In Illinois, residents benefit from some of the lowest utility costs in the nation. The overall cost of living remains affordable, thanks to utilities such as electricity, which averages at 13.04 cents per kWh and results in a monthly bill of approximately $93.98. This can be attributed to [energy-efficient consumption](https://electricityrates.com/illinois/), allowing Illinois to boast one of the lowest average residential electricity rates in the country. Natural gas costs approximately $69.38, while water and sewer services are $47 and $65, respectively. These costs underline how Illinois remains one of the most economical states for utilities in 2024, further supported by an average monthly expenditure of around $160 for basic services like heating, cooling, and garbage.
Grocery and food pricing.
In Illinois, the average household spends $269 on groceries each week, which accounts for 7.4% of total consumer spending, marking it as the 8th smallest percentage in the U.S. Notably, grocery prices have surged by nearly 25% since the COVID-19 pandemic, with significant increases seen in specific items such as dairy and bakery products. For a detailed report on consumer spending trends, visit the 977 WMOI website. As families adjust to these changes, understanding expenditure patterns remains crucial for budgeting and financial planning.
Transportation costs and options.
Transportation costs in Illinois vary, with a one-way ticket for local transport priced at around $2.50, while a monthly pass comes to about $80, and gasoline costs approximately $1.12 per liter. Moreover, programs such as the Regional Transportation Authority Transit Benefit Fare Program provide commuters with an opportunity to save on public transit expenses by utilizing pre-tax dollars.
Healthcare expenses and availability.
In Illinois, healthcare expenses pose significant affordability burdens, with more than half of the adults experiencing issues such as being uninsured due to high premiums, delaying or forgoing healthcare due to cost, and struggling to pay medical bills. Despite healthcare services being 6% lower than the national average, the challenges persist. This shows the pressing need for solutions, and indeed, there is widespread support for a range of government interventions, which is highlighted on the Healthcare Value Hub website.
Education costs and school options.
In Illinois, education costs vary widely depending on the school choice. Traditional public schools are free, while private schools average $8,639 for elementary and $13,923 for high school. The state also offers tax credits for educational expenses and limited open enrollment policies for public schools. Additionally, families can consider public charter schools, magnet schools, homeschooling, and online learning options. For more detailed information, visit the Illinois School Choice website to explore all available options for your educational journey.
State and local taxation rates.
In Illinois, families encounter the highest state and local tax rates in the nation, with an effective total tax rate exceeding 15% of their income, translating to an average of $10,463 annually. The state is burdened with the second-highest gas taxes and property taxes, where property taxes average 2.08% of a home's assessed value. Additionally, the local sales tax rates can elevate the combined sales tax to as much as 10.25% in regions like Chicago. For more detailed insights, visit the Illinois Policy Institute where comprehensive information and analysis can be found.
Entertainment and dining out expenses.
In Chicago, IL, entertainment and dining out expenses are notably higher than the national average. For instance, a movie ticket can cost you approximately $17.91, and if you're planning to get a haircut, expect to spend around $33.69. When it comes to dining out, you might pay about $22 for a meal for two at an inexpensive restaurant. However, if you're aiming for a more elaborate experience, a three-course meal at a mid-range restaurant can set you back about $90. For a detailed comparison of costs in the area, you might want to explore the RentCafe Cost of Living Calculator for a more comprehensive understanding.
Regional cost of living variations.
The cost of living in Illinois varies significantly across different regions. While the state average is 8% lower than the national average, cities like Chicago are 14% higher than the national average. In contrast, cities such as Danville and Decatur are 21% and 22% lower, respectively. Housing, utilities, and other expenses also differ substantially depending on the location within the state. To get a more detailed comparison, you can use the Cost of Living Calculator available online.