Burbank, IL Cost Of Living

Burbank 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.
Index	Burbank	Illinois	National
Cost of living index	107	99	100
Index	Burbank	Illinois	National
Goods & Services index	115	101	100
Groceries index	108	97	100
Health care index	101	101	100
Housing index	99	95	100
Transportation index	127	105	100
Utilities index	90	96	100

Displayed above is a general overview of the Burbank, IL cost of living index. The overall cost of living index in Burbank, IL is 107, which is 9% higher than the Illinois average and 7% higher than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Burbank, IL are 14% higher than the Illinois average and 15% higher than the national average.

Did you know?

The cost of living in Burbank is 9% higher than the Illinois average.
The cost of living in Burbank is 7% higher than the national average.
The cost of housing in Burbank is 1% 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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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

The salary calculator is meant to help you compare your salary in Burbank, IL to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Burbank, IL, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Burbank, IL salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$60,885	$5,074	$1,421	$1,827
Renters	$37,089	$3,091	$865	$1,113

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Burbank, IL as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Burbank, IL homeowners, is $60,885. This would allow for a maximum of $1,421 per month to be spent on housing costs. For renters, the median monthly income is $37,089 which would result in a maximum of $865 to be spent on rental 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	3.75%	3.75%

One thing to keep in mind when considering the cost of living in Burbank, 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 10.25%. 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

Item	Burbank	National avg.	Difference
Haircut	$20.00	$16.09	24.3%
Beauty Salon	$69.87	$37.33	87.2%
Toothpaste	$2.80	$2.45	14.3%
Shampoo	$0.98	$1.00	1.7%
Movie	$13.72	$10.28	33.5%
Bowling	$8.00	$4.93	62.2%

Groceries

Item	Burbank	National avg.	Difference
Ground Beef	$4.33	$3.80	13.8%
Fried Chicken	$1.28	$1.40	8.1%
Milk	$1.95	$2.01	2.9%
Potatoes	$3.79	$3.01	26.0%
Pizza	$9.99	$9.89	1.1%
Beer	$8.49	$8.90	4.6%

Health Care

Item	Burbank	National avg.	Difference
Optometrist	$95.00	$102.16	7.0%
Doctor	$100.00	$108.36	7.7%
Dentist	$102.33	$92.53	10.6%
Ibuprofen	$9.87	$9.28	6.4%
Lipitor	$414.41	$425.82	2.7%

Housing

Item	Burbank	National avg.	Difference
Home Price	$176,000.00	$184,700.00	4.7%
Avg. Mortgage Payment	$1,785.17	$1,202.44	48.5%
Apartment Rent	$1,009.00	$949.00	6.3%

Transportation

Item	Burbank	National avg.	Difference
Gasoline	$2.93	$2.24	30.6%
Tire Balancing	$55.00	$46.29	18.8%

Utilities

Item	Burbank	National avg.	Difference
All Electricity	$130.69	$165.96	21.3%
Phone	$29.99	$28.68	4.6%

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, State	Population	Cost of Living Index	National Avg.
Hodgkins, IL	1,960	89	-11%
Dixmoor, IL	3,614	91	-9%
Harvey, IL	25,625	94	-6%
Hometown, IL	4,343	94	-6%
Robbins, IL	5,216	94	-6%
Burbank, IL	29,087	107	7%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
O'Fallon, IL	29,078	99	-1%
Southlake, TX	29,101	151	51%
South Riding, VA	29,073	153	53%
West Falls Church, VA	29,059	143	43%
Sanford, NC	29,048	86	-14%
Burbank, IL	29,087	107	7%

Source: The Burbank, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.

Burbank, IL Cost of Living