A+
9%
Overall NAT. AVG.
1%
Goods & Services NAT. AVG.
35%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Charleston Illinois National
Cost of living9196100
Goods & Services9997100
Groceries9898100
Health care13195100
Housing6595100
Transportation103103100
Utilities10789100

An Overview of Cost of Living in Charleston, IL

Getting a feel for the cost of living in Charleston is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Charleston is 91, which is 9% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

Everyday expenditures like food, housing, goods and services, transportation and health care in Charleston are priced in a manner consistent with other areas. This means that residents of Charleston can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.

Is Charleston Affordable?

Wondering if Charleston is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Charleston, for example, the median home price is 40.2% lower than what folks pay nationally, and monthly rent is 24.6% lower than the usual rates. Plus, income levels matter too, with Charleston boasting a median household income of $41,436, which is 25.1% lower than the national average.

What Factors can Influence the Cost of Living in Charleston?

Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Charleston, the utilities index stands at 7% higher than the national average.

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Charleston, healthcare costs are 30.8% higher than the national average.

Where is the Data From?

The cost of living in Charleston, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Charleston is 5% lower than the Illinois average
  • The cost of living in Charleston is 9% lower than the national average
  • Charleston housing is 35% lower than the national average
  • Illinois general sales tax is 22% higher than the national average
  • Illinois state income tax is 119% higher than the national average

Most Affordable Places to Live in and Around Charleston

See all the best places to live around Charleston

Compare Charleston, IL Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$65,926$5,494$1,538$1,978
      Renters$27,909$2,326$651$837
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Charleston, 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 Charleston homeowners, is $65,926. This would allow for a maximum of $1,538 per month to be spent on housing costs. For renters, the median monthly income is $27,909 which would result in a maximum of $651 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 4.95% 4.95%

      Goods & Services

      Item Charleston National avg. Difference
      Haircut $18.50$24.2623.7%
      Beauty Salon $30.00$45.5634.2%
      Toothpaste $3.71$3.700.3%
      Shampoo $1.24$1.282.9%
      Movie $9.63$12.1320.6%
      Bowling $15.00$18.0016.7%

      Groceries

      Item Charleston National avg. Difference
      Ground Beef $5.92$5.841.4%
      Fried Chicken $1.62$1.573.2%
      Milk $4.75$4.671.7%
      Potatoes $5.14$4.934.1%
      Pizza $13.25$12.099.6%
      Beer $9.97$10.414.2%

      Health Care

      Item Charleston National avg. Difference
      Optometrist $150.00$125.6819.3%
      Doctor $146.67$135.788.0%
      Dentist $205.92$113.2981.8%
      Ibuprofen $10.29$10.653.4%
      Lipitor $441.50$468.605.8%

      Housing

      Item Charleston National avg. Difference
      Home Price $110,500.00$184,700.0040.2%
      Avg. Mortgage Payment $1,778.87$2,346.6924.2%
      Apartment Rent $716.00$949.0024.6%

      Transportation

      Item Charleston National avg. Difference
      Gasoline $3.45$3.460.3%
      Tire Balancing $67.33$59.9212.4%

      Utilities

      Item Charleston National avg. Difference
      All Electricity $216.89$193.9911.8%
      Phone $190.03$192.251.2%
      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 Population Cost of Living Index National Avg.
      Kansas, IL7718119.0%
      Westfield, IL5708515.1%
      Hindsboro, IL4008118.5%
      Oakland, IL1,0628218.5%
      Lerna, IL2517525.3%
      Charleston, IL20,141918.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Germantown, WI20,14211212.0%
      Ferndale, MI20,1391000.5%
      Albany, CA20,145206105.5%
      South St. Paul, MN20,1321000.3%
      Cocoa, FL20,151919.1%
      Charleston, IL20,141918.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.