Byron 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.
IndexByronIllinoisNational
Cost of living index8998100
IndexByronIllinoisNational
Goods & Services index9597100
Groceries index9197100
Health care index107100100
Housing index7599100
Transportation index107104100
Utilities index8595100
Displayed above is a general overview of the Byron, IL cost of living index. The overall cost of living index in Byron, IL is 89, which is 9% lower than the Illinois average and 11% lower 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 Byron, IL are 2% lower than the Illinois average and 5% lower than the national average.

Did you know?

  • The cost of living in Byron is 9% lower than the Illinois average.
  • The cost of living in Byron is 11% lower than the national average.
  • The cost of housing in Byron is 25% 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 Byron, IL Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in Byron, IL to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Byron, IL, then you would need to earn more income in order to maintain the same standard of living. To use the Byron, IL salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$71,607$5,967$1,671$2,148
Renters$35,444$2,954$827$1,063
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Byron, 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 Byron, IL homeowners, is $71,607. This would allow for a maximum of $1,671 per month to be spent on housing costs. For renters, the median monthly income is $35,444 which would result in a maximum of $827 to be spent on rental 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 Byron, 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

ItemByronNational avg.Difference
Haircut $13.71$15.5611.9%
Beauty Salon $29.19$36.1119.2%
Toothpaste $1.88$2.4724.1%
Shampoo $0.90$0.967.1%
Movie $10.36$10.132.3%
Bowling $3.99$4.7415.7%

Groceries

ItemByronNational avg.Difference
Ground Beef $3.47$3.9813.0%
Fried Chicken $1.41$1.410.0%
Milk $2.15$2.064.3%
Potatoes $2.16$2.9827.7%
Pizza $8.67$9.478.5%
Beer $7.96$8.799.5%

Health Care

ItemByronNational avg.Difference
Optometrist $73.86$101.0426.9%
Doctor $132.16$107.4423.0%
Dentist $94.44$90.424.5%
Ibuprofen $9.63$9.283.7%
Lipitor $431.63$426.501.2%

Housing

ItemByronNational avg.Difference
Home Price $142,200.00$175,700.0019.1%
Avg. Mortgage Payment $777.66$1,133.2331.4%
Apartment Rent $574.00$920.0037.6%

Transportation

ItemByronNational avg.Difference
Gasoline $2.11$1.995.7%
Tire Balancing $50.94$45.7611.3%

Utilities

ItemByronNational avg.Difference
All Electricity$141.68$163.8113.5%
Phone $23.50$28.3917.2%
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.
Leaf River, IL58682-18%
Adeline, IL7282-18%
Ridott, IL12282-18%
German Valley, IL48184-16%
New Milford, IL75684-16%
Byron, IL3,69489-11%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Coal Valley, IL3,69296-4%
North East, MD3,6961066%
Manhasset Hills, NY3,697203103%
Brimfield, OH3,69193-7%
Jasper, GA3,69196-4%
Byron, IL3,69489-11%
Source: The Byron, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.