Braidwood cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexBraidwoodIllinoisNational
Cost of living index9799100
IndexBraidwoodIllinoisNational
Goods & Services index9698100
Groceries index10699100
Health care index104101100
Housing index9199100
Transportation index10097100
Utilities index103101100
A general overview of the cost of living index for Braidwood, IL is displayed above. In Braidwood, IL, the overall cost of living index is 97, which is 2% lower than the Illinois average and 3% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Braidwood, IL, the city's goods and services are 2% lower than the Illinois average and 4% lower than the U.S. average.

Did you know?

  • The cost of living in Braidwood is 2% lower than the Illinois average.
  • The cost of living in Braidwood is 3% lower than the national average.
  • The cost of housing in Braidwood is 9% lower than the national average.
  • Illinois general sales tax is 23% higher than the national average.
  • Illinois state income tax is 69% higher than the national average.

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Compare Braidwood, IL Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current income in Braidwood, IL to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Braidwood, IL, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Braidwood, IL salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$65,804$5,484$1,535$1,974
Renters$34,040$2,837$794$1,021
The affordability of the housing market in Braidwood, IL as well as the overall cost of living can be indicated accurately 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 ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Braidwood, IL homeowners, the median income is $65,804. This indicates that a monthly maximum of $1,535 should be spent by homeowners on all housing related costs. Renters have a median income of $34,040. This indicates that renters should have a maximum of $794 used for their rent related monthly costs.

Illinois Sales Tax

StateGeneral Sales TaxWith Max Surtax
Illinois6.25%9.75%

Illinois Income Tax

StateIncome Tax (Low)Income Tax (High)
Illinois3.75%3.75%
One thing to keep in mind when considering the cost of living in Braidwood, IL is the Illinois sales tax and Illinois income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Illinois sales tax rate is 6.25% and the maximum surtax that can be charged is 9.75%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Illinois income tax rates range from 3.75% to 3.75%.

Goods & Services

ItemBraidwoodNational avg.Difference
Haircut $15.50$14.596.2%
Beauty Salon $37.40$34.687.8%
Toothpaste $3.31$2.4733.8%
Shampoo $1.53$1.0249.7%
Movie $10.26$9.874.0%
Bowling $3.51$4.3920.1%

Groceries

ItemBraidwoodNational avg.Difference
Ground Beef $4.21$4.486.0%
Fried Chicken $1.56$1.466.6%
Milk $2.65$2.3612.4%
Potatoes $2.78$3.069.2%
Pizza $8.86$9.244.1%
Beer $8.19$8.635.1%

Health Care

ItemBraidwoodNational avg.Difference
Optometrist $111.13$99.7811.4%
Doctor $129.44$105.0323.2%
Dentist $82.38$88.707.1%
Ibuprofen $8.99$9.414.5%
Lipitor $298.47$298.500.0%

Housing

ItemBraidwoodNational avg.Difference
Home Price $157,300.00$175,700.0010.5%
Avg. Mortgage Payment $1,023.97$1,081.035.3%
Apartment Rent $866.00$920.005.9%

Transportation

ItemBraidwoodNational avg.Difference
Gasoline $2.03$2.093.1%
Tire Balancing $49.67$45.299.7%

Utilities

ItemBraidwoodNational avg.Difference
All Electricity$175.65$170.802.8%
Phone $29.20$28.263.3%
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, StatePopulationCost of Living IndexNational Avg.
Wilmington, IL14880-20%
Verona, IL23589-11%
Dwight, IL4,10491-9%
Godley, IL62292-8%
Lakewood Shores, IL1,25093-7%
Braidwood, IL6,19197-3%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Carlstadt, NJ6,18914949%
Crosspointe, VA6,19317979%
Port Wentworth, GA6,18998-2%
Kirtland, NM6,18996-4%
Schuyler, NE6,19585-15%
Braidwood, IL6,19197-3%
Source: The Braidwood, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.