Freeport 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.
IndexFreeportIllinoisNational
Cost of living index8298100
IndexFreeportIllinoisNational
Goods & Services index9597100
Groceries index9197100
Health care index107100100
Housing index5099100
Transportation index107104100
Utilities index8595100
A general overview of the cost of living index for Freeport, IL is displayed above. In Freeport, IL, the overall cost of living index is 82, which is 17% lower than the Illinois average and 18% lower 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 Freeport, 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 Freeport is 17% lower than the Illinois average.
  • The cost of living in Freeport is 18% lower than the national average.
  • The cost of housing in Freeport is 50% 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.

Find Real Estate Listings In Freeport

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Freeport

Compare Freeport, IL Cost of living To Other Cities

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
Using the salary calculator lets you compare the salary you earn in Freeport, 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 Freeport, IL, you have to earn a higher income in order to still have the same standard of living. To operate the Freeport, 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$48,708$4,059$1,136$1,461
Renters$22,377$1,865$522$671
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 Freeport, 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. Freeport, IL has a median income of about $48,708 for people who own homes. Based on that number, a person should spend a maximum of $1,136 on expenses related to housing. Renters have a slightly different median income, which is $22,377. Based on this average, renters should spend no more than $522 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%
The Illinois sales tax and Illinois income tax rates should definitely be considered when determining the overall cost of living in Freeport, 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

ItemFreeportNational 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

ItemFreeportNational 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

ItemFreeportNational 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

ItemFreeportNational avg.Difference
Home Price $76,500.00$175,700.0056.5%
Avg. Mortgage Payment $777.66$1,133.2331.4%
Apartment Rent $605.00$920.0034.2%

Transportation

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

Utilities

ItemFreeportNational 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.
Lanark, IL1,65080-20%
Winslow, IL23582-18%
Leaf River, IL58682-18%
Adeline, IL7282-18%
Ridott, IL12282-18%
Freeport, IL25,22582-18%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Harvey, IL25,22594-6%
Bloomington, CA25,2281099%
Ossining, NY25,23214747%
Westmont, IL25,23611818%
Huntley, IL25,2001088%
Freeport, IL25,22582-18%
Source: The Freeport, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.