Forsyth 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.
IndexForsythIllinoisNational
Cost of living index10298100
IndexForsythIllinoisNational
Goods & Services index9597100
Groceries index9297100
Health care index90100100
Housing index12399100
Transportation index94104100
Utilities index9395100
A general overview of the cost of living index for Forsyth, IL is displayed above. In Forsyth, IL, the overall cost of living index is 102, which is 4% higher than the Illinois average and 2% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Forsyth, IL, the city's goods and services are 2% lower than the Illinois average and 5% lower than the U.S. average.

Did you know?

  • The cost of living in Forsyth is 4% higher than the Illinois average.
  • The cost of living in Forsyth is 2% higher than the national average.
  • The cost of housing in Forsyth is 23% 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 Forsyth, IL Cost of living To Other Cities

Salary Calculator

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Groceries index
Health care index
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Using the salary calculator lets you compare the salary you earn in Forsyth, IL to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Forsyth, IL, you have to earn a higher income in order to still have the same standard of living. To operate the Forsyth, IL salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$95,938$7,995$2,238$2,878
Renters$93,029$7,752$2,171$2,791
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Forsyth, IL, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Forsyth, IL has a median income of about $95,938 for people who own homes. Based on that number, a person should spend a maximum of $2,238 on expenses related to housing. Renters have a slightly different median income, which is $93,029. Based on this average, renters should spend no more than $2,171 on all of their rental costs if they want to maintain a non-impoverished standard of living.

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%
When you are determining the total cost of living in Forsyth, IL you will want to make sure you consider both the Illinois sales tax and the Illinois income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Illinois is 6.25%, with the highest surtax being 9.75%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Illinois have a range from 3.75% to 3.75%.

Goods & Services

ItemForsythNational avg.Difference
Haircut $15.01$15.563.6%
Beauty Salon $30.75$36.1114.8%
Toothpaste $2.04$2.4717.5%
Shampoo $0.79$0.9617.8%
Movie $9.65$10.134.7%
Bowling $4.21$4.7411.1%

Groceries

ItemForsythNational avg.Difference
Ground Beef $3.96$3.980.7%
Fried Chicken $1.17$1.4116.6%
Milk $1.75$2.0615.4%
Potatoes $2.77$2.987.2%
Pizza $9.49$9.470.2%
Beer $8.57$8.792.5%

Health Care

ItemForsythNational avg.Difference
Optometrist $68.47$101.0432.2%
Doctor $101.17$107.445.8%
Dentist $74.04$90.4218.1%
Ibuprofen $8.59$9.287.4%
Lipitor $440.10$426.503.2%

Housing

ItemForsythNational avg.Difference
Home Price $221,600.00$175,700.0026.1%
Avg. Mortgage Payment $946.05$1,133.2316.5%
Apartment Rent $1,071.00$920.0016.4%

Transportation

ItemForsythNational avg.Difference
Gasoline $1.99$1.990.0%
Tire Balancing $36.14$45.7621.0%

Utilities

ItemForsythNational avg.Difference
All Electricity$157.34$163.813.9%
Phone $25.55$28.3910.0%
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.
LaPlace, IL14675-25%
Beason, IL18576-24%
Weldon, IL43878-22%
Boody, IL24979-21%
Latham, IL26579-21%
Forsyth, IL3,6901022%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Leisure Village East, NJ3,6891099%
Jasper, GA3,69196-4%
Carthage, NY3,68996-4%
Brimfield, OH3,69193-7%
Emerald Isle, NC3,68912727%
Forsyth, IL3,6901022%
Source: The Forsyth, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.