Buffalo Grove 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.
IndexBuffalo GroveIllinoisNational
Cost of living index12299100
IndexBuffalo GroveIllinoisNational
Goods & Services index10698100
Groceries index10899100
Health care index100101100
Housing index16099100
Transportation index11297100
Utilities index104101100
Here we can see a simple outline of the cost of living in Buffalo Grove, IL. As you can see, with the average cost of living in Buffalo Grove, IL being 122, that puts it 24% higher than the average of Illinois and 22% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Buffalo Grove, IL, the price of goods and services are 8% higher than the average of Illinois as well as 6% higher than the nation's average.

Did you know?

  • The cost of living in Buffalo Grove is 24% higher than the Illinois average.
  • The cost of living in Buffalo Grove is 22% higher than the national average.
  • The cost of housing in Buffalo Grove is 60% higher 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 Buffalo Grove, IL Cost of living To Other Cities

Salary Calculator

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Groceries index
Health care index
Housing index
Transportation index
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The salary calculator allows you to compare how much your current salary in Buffalo Grove, IL would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Buffalo Grove, IL, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Buffalo Grove, IL salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$105,021$8,752$2,450$3,151
Renters$66,034$5,503$1,541$1,981
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Buffalo Grove, IL, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Buffalo Grove, IL homeowners have a median income of $105,021. Using that number, you will come up with a maximum of $2,450 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $66,034, which means there is a maximum of $1,541 to be spent on the costs of renting a home or apartment.

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%
When you are determining the total cost of living in Buffalo Grove, IL you will want to make sure you consider both the Illinois sales tax and the Illinois income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Illinois is 6.25%, with the highest surtax being 9.75%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Illinois have a range from 3.75% to 3.75%.

Goods & Services

ItemBuffalo GroveNational avg.Difference
Haircut $17.50$14.5919.9%
Beauty Salon $45.00$34.6829.8%
Toothpaste $2.34$2.475.4%
Shampoo $0.99$1.023.1%
Movie $13.75$9.8739.3%
Bowling $5.00$4.3913.9%

Groceries

ItemBuffalo GroveNational avg.Difference
Ground Beef $5.37$4.4820.0%
Fried Chicken $1.42$1.463.0%
Milk $1.74$2.3626.2%
Potatoes $2.50$3.0618.3%
Pizza $10.99$9.2418.9%
Beer $14.25$8.6365.1%

Health Care

ItemBuffalo GroveNational avg.Difference
Optometrist $95.00$99.784.8%
Doctor $100.00$105.034.8%
Dentist $100.00$88.7012.7%
Ibuprofen $9.24$9.411.8%
Lipitor $262.00$298.5012.2%

Housing

ItemBuffalo GroveNational avg.Difference
Home Price $295,500.00$175,700.0068.2%
Avg. Mortgage Payment $1,500.61$1,081.0338.8%
Apartment Rent $1,290.00$920.0040.2%

Transportation

ItemBuffalo GroveNational avg.Difference
Gasoline $2.29$2.099.5%
Tire Balancing $53.31$45.2917.7%

Utilities

ItemBuffalo GroveNational avg.Difference
All Electricity$173.99$170.801.9%
Phone $30.05$28.266.3%
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.
Park City, IL7,55185-15%
Waukegan, IL88,67199-1%
North Chicago, IL30,76099-1%
Round Lake Beach, IL28,048100-0%
Round Lake Park, IL7,7581022%
Buffalo Grove, IL41,61312222%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Kearny, NJ41,53812626%
Bartlett, IL41,52911818%
University, FL41,73286-14%
Oro Valley, AZ41,49311212%
Urbana, IL41,76094-6%
Buffalo Grove, IL41,61312222%
Source: The Buffalo Grove, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.