A+
17%
Overall NAT. AVG.
9%
Goods & Services NAT. AVG.
44%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Alton Illinois National
Cost of living8396100
Goods & Services9297100
Groceries9798100
Health care8995100
Housing5695100
Transportation94103100
Utilities10289100

An Overview of Cost of Living in Alton, IL

Are you thinking about relocating, but curious about the potential cost of living in Alton? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Alton stands at 83, making it 17% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

Housing costs often consume a significant share of your take-home income, often surpassing 30%. Fortunately, Alton distinguishes itself by reporting housing expenses that are 44.4% below the national average. This indicates that both owning a home and renting in this area are notably more budget-friendly compared to the rest of the nation. With such favorable housing affordability, residents of Alton can allocate more of their income to housing, enhancing their financial flexibility.

Is Alton Affordable?

Is Alton an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Alton is 56.5% lower than the national average, while the average monthly rent prices are 16.1% lower than average. The affordability of any location can also be influenced by median income levels. Alton has a median household income of $43,291, which is 21.7% lower than the national average.

What Factors can Influence the Cost of Living in Alton?

Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Alton, the groceries index registers 3.1% lower than the national average.

Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Alton, the general sales tax rate starts at 6.25%, and income tax rates begin at 4.95%.

Where is the Data From?

The cost of living data in Alton displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Alton is 14% lower than the Illinois average
  • The cost of living in Alton is 17% lower than the national average
  • Alton housing is 44% lower than the national average
  • Illinois general sales tax is 22% higher than the national average
  • Illinois state income tax is 119% higher than the national average

Most Affordable Places to Live in and Around Alton

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Compare Alton, IL Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$56,511$4,709$1,319$1,695
      Renters$26,630$2,219$621$799
      The affordability of the housing market in Alton, IL as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Alton homeowners, the median income is $56,511. This indicates that a monthly maximum of $1,319 should be spent by homeowners on all housing related costs. Renters have a median income of $26,630. This indicates that renters would have a maximum of $621 for their rent related monthly costs.

      Illinois Sales Tax

      State General Sales Tax With Max Surtax
      Illinois 6.25% 10.25%

      Illinois Income Tax

      State Income Tax (Low) Income Tax (High)
      Illinois 4.95% 4.95%

      Goods & Services

      Item Alton National avg. Difference
      Haircut $21.19$24.2612.7%
      Beauty Salon $40.57$45.5611.0%
      Toothpaste $3.75$3.701.3%
      Shampoo $1.11$1.2813.3%
      Movie $11.28$12.137.1%
      Bowling $16.92$18.006.0%

      Groceries

      Item Alton National avg. Difference
      Ground Beef $6.40$5.849.7%
      Fried Chicken $1.36$1.5713.3%
      Milk $4.50$4.673.7%
      Potatoes $5.28$4.936.9%
      Pizza $10.84$12.0910.3%
      Beer $9.47$10.419.1%

      Health Care

      Item Alton National avg. Difference
      Optometrist $125.72$125.680.0%
      Doctor $124.51$135.788.3%
      Dentist $100.78$113.2911.0%
      Ibuprofen $10.14$10.654.8%
      Lipitor $520.16$468.6011.0%

      Housing

      Item Alton National avg. Difference
      Home Price $80,400.00$184,700.0056.5%
      Avg. Mortgage Payment $1,737.43$2,346.6926.0%
      Apartment Rent $796.00$949.0016.1%

      Transportation

      Item Alton National avg. Difference
      Gasoline $3.20$3.467.6%
      Tire Balancing $50.00$59.9216.6%

      Utilities

      Item Alton National avg. Difference
      All Electricity $133.84$193.9931.0%
      Phone $188.69$192.251.9%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Otterville, IL1957525.1%
      Royal Lakes, IL2827623.7%
      Kinloch, MO3377822.4%
      Riverview, MO2,8487920.9%
      Mitchell, IL1,2337920.5%
      Alton, IL26,4908317.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Conception Bay South, NL26,497n/a 
      Batavia, IL26,47911717.4%
      Pearl, MS26,4628811.5%
      Wooster, OH26,557918.7%
      Brownsburg, IN26,5601033.0%
      Alton, IL26,4908317.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.