Channel Lake 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.
IndexChannel LakeIllinoisNational
Cost of living index10199100
IndexChannel LakeIllinoisNational
Goods & Services index9798100
Groceries index10399100
Health care index115101100
Housing index10499100
Transportation index8997100
Utilities index110101100

Did you know?

  • The cost of living in Channel Lake is 2% higher than the Illinois average.
  • The cost of living in Channel Lake is 1% higher than the national average.
  • The cost of housing in Channel Lake is 4% 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 Channel Lake, IL Cost of living To Other Cities

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Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$66,447$5,537$1,550$1,994
Renters$50,179$4,182$1,171$1,506

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%

Goods & Services

ItemChannel LakeNational avg.Difference
Haircut $15.99$14.599.6%
Beauty Salon $30.60$34.6811.8%
Toothpaste $2.51$2.471.5%
Shampoo $0.89$1.0212.9%
Movie $9.80$9.870.7%
Bowling $3.25$4.3926.0%

Groceries

ItemChannel LakeNational avg.Difference
Ground Beef $3.32$4.4825.8%
Fried Chicken $1.86$1.4627.0%
Milk $2.20$2.366.6%
Potatoes $2.35$3.0623.2%
Pizza $9.00$9.242.6%
Beer $7.97$8.637.7%

Health Care

ItemChannel LakeNational avg.Difference
Optometrist $52.40$99.7847.5%
Doctor $166.00$105.0358.0%
Dentist $91.60$88.703.3%
Ibuprofen $9.19$9.412.4%
Lipitor $315.77$298.505.8%

Housing

ItemChannel LakeNational avg.Difference
Home Price $176,400.00$175,700.000.4%
Avg. Mortgage Payment $1,141.54$1,081.035.6%
Apartment Rent $1,040.00$920.0013.0%

Transportation

ItemChannel LakeNational avg.Difference
Gasoline $1.89$2.099.6%
Tire Balancing $37.95$45.2916.2%

Utilities

ItemChannel LakeNational avg.Difference
All Electricity$169.20$170.800.9%
Phone $35.25$28.2624.8%
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%
Lake Ivanhoe, WI51294-6%
Hebron, IL1,09494-6%
Waukegan, IL88,67199-1%
North Chicago, IL30,76099-1%
Channel Lake, IL1,3371011%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Castleton-on-Hudson, NY1,3371055%
South Shore, KY1,33778-22%
Bainbridge, NY1,33789-11%
Redkey, IN1,33772-28%
Seven Points, TX1,33787-13%
Channel Lake, IL1,3371011%
Source: The Channel Lake, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.