Cost Of Living In Carpentersville, IL

Carpentersville 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	Carpentersville	Illinois	National
Cost of living index	104	98	100
Index	Carpentersville	Illinois	National
Goods & Services index	108	97	100
Groceries index	108	97	100
Health care index	103	100	100
Housing index	93	99	100
Transportation index	126	104	100
Utilities index	95	95	100

Displayed above is a general overview of the Carpentersville, IL cost of living index. The overall cost of living index in Carpentersville, IL is 104, which is 6% higher than the Illinois average and 4% 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 Carpentersville, IL are 12% higher than the Illinois average and 8% higher than the national average.

Did you know?

The cost of living in Carpentersville is 6% higher than the Illinois average.
The cost of living in Carpentersville is 4% higher than the national average.
The cost of housing in Carpentersville is 7% 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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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Use the salary calculator to compare your current salary in Carpentersville, 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 Carpentersville, IL, then you would need to earn more income in order to maintain the same standard of living. To use the Carpentersville, 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 Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$75,264	$6,272	$1,756	$2,258
Renters	$28,611	$2,384	$668	$858

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Carpentersville, 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 Carpentersville, IL homeowners, is $75,264. This would allow for a maximum of $1,756 per month to be spent on housing costs. For renters, the median monthly income is $28,611 which would result in a maximum of $668 to be spent on rental costs.

Illinois Sales Tax

State	General Sales Tax	With Max Surtax
Illinois	6.25%	9.75%

Illinois Income Tax

State	Income Tax (Low)	Income Tax (High)
Illinois	3.75%	3.75%

The Illinois sales tax and Illinois income tax rates should definitely be considered when determining the overall cost of living in Carpentersville, IL. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Illinois sales tax is 6.25% and the maximum surtax is 9.75%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Illinois income tax rates range from 3.75% to 3.75%.

Goods & Services

Item	Carpentersville	National avg.	Difference
Haircut	$17.44	$15.56	12.1%
Beauty Salon	$55.00	$36.11	52.3%
Toothpaste	$2.68	$2.47	8.3%
Shampoo	$1.00	$0.96	3.6%
Movie	$13.20	$10.13	30.3%
Bowling	$8.00	$4.74	68.9%

Groceries

Item	Carpentersville	National avg.	Difference
Ground Beef	$4.57	$3.98	14.6%
Fried Chicken	$1.67	$1.41	18.4%
Milk	$1.94	$2.06	5.8%
Potatoes	$3.51	$2.98	17.6%
Pizza	$9.99	$9.47	5.5%
Beer	$8.73	$8.79	0.7%

Health Care

Item	Carpentersville	National avg.	Difference
Optometrist	$95.00	$101.04	6.0%
Doctor	$99.17	$107.44	7.7%
Dentist	$101.11	$90.42	11.8%
Ibuprofen	$9.80	$9.28	5.6%
Lipitor	$421.75	$426.50	1.1%

Housing

Item	Carpentersville	National avg.	Difference
Home Price	$155,100.00	$175,700.00	11.7%
Avg. Mortgage Payment	$1,611.36	$1,133.23	42.2%
Apartment Rent	$969.00	$920.00	5.3%

Transportation

Item	Carpentersville	National avg.	Difference
Gasoline	$2.57	$1.99	28.9%
Tire Balancing	$54.44	$45.76	19.0%

Utilities

Item	Carpentersville	National avg.	Difference
All Electricity	$150.85	$163.81	7.9%
Phone	$28.44	$28.39	0.2%

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, State	Population	Cost of Living Index	National Avg.
Union, IL	516	94	-6%
Woodstock, IL	25,121	96	-4%
Holiday Hills, IL	654	106	6%
Elgin, IL	110,906	106	6%
East Dundee, IL	3,003	107	7%
Carpentersville, IL	38,128	104	4%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Hurst, TX	38,140	98	-2%
Puyallup, WA	38,092	116	16%
Severna Park, MD	38,177	145	45%
Hallandale Beach, FL	38,270	99	-1%
Pacifica, CA	38,283	176	76%
Carpentersville, IL	38,128	104	4%

Source: The Carpentersville, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.

Carpentersville, IL Cost of Living