Gages 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.
IndexGages LakeIllinoisNational
Cost of living index11199100
IndexGages LakeIllinoisNational
Goods & Services index10698100
Groceries index10899100
Health care index100101100
Housing index12099100
Transportation index11297100
Utilities index104101100
The above illustration supplies generalized information for the Gages Lake, IL cost of living index. Compared to other cities in Illinois and cities across the country, the cost of living index in Gages Lake, IL is 111, which is 12% higher than the Illinois average and 11% higher than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Gages Lake, IL are 8% higher than the average for Illinois and 6% higher than the rest of the country.

Did you know?

  • The cost of living in Gages Lake is 12% higher than the Illinois average.
  • The cost of living in Gages Lake is 11% higher than the national average.
  • The cost of housing in Gages Lake is 20% 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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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
The salary calculator is used in order to provide a comparison of your current salary in Gages Lake, IL to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Gages Lake, IL, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Gages Lake, IL salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
If you want to find a good determining factor for the cost of living and the general affordability of housing in Gages Lake, IL, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Gages Lake, IL, the median monthly income is $91,964 for those who own their own homes. Under the standard rule, that income level would allow for $2,146 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $41,000, per the median income in the area. That would allow for renters to spend up to $957 on monthly rental expenses.

Illinois Sales Tax

StateGeneral Sales TaxWith Max Surtax

Illinois Income Tax

StateIncome Tax (Low)Income Tax (High)
One thing to keep in mind when considering the cost of living in Gages Lake, IL is the Illinois sales tax and Illinois income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Illinois sales tax rate is 6.25% and the maximum surtax that can be charged is 9.75%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Illinois income tax rates range from 3.75% to 3.75%.

Goods & Services

ItemGages LakeNational avg.Difference
Haircut $17.50$14.5919.9%
Beauty Salon $45.00$34.6829.8%
Toothpaste $2.34$2.475.4%
Shampoo $0.99$1.023.1%
Movie $13.75$9.8739.3%
Bowling $5.00$4.3913.9%


ItemGages LakeNational avg.Difference
Ground Beef $5.37$4.4820.0%
Fried Chicken $1.42$1.463.0%
Milk $1.74$2.3626.2%
Potatoes $2.50$3.0618.3%
Pizza $10.99$9.2418.9%
Beer $14.25$8.6365.1%

Health Care

ItemGages LakeNational avg.Difference
Optometrist $95.00$99.784.8%
Doctor $100.00$105.034.8%
Dentist $100.00$88.7012.7%
Ibuprofen $9.24$9.411.8%
Lipitor $262.00$298.5012.2%


ItemGages LakeNational avg.Difference
Home Price $201,200.00$175,700.0014.5%
Avg. Mortgage Payment $1,500.61$1,081.0338.8%
Apartment Rent $1,233.00$920.0034.0%


ItemGages LakeNational avg.Difference
Gasoline $2.29$2.099.5%
Tire Balancing $53.31$45.2917.7%


ItemGages LakeNational avg.Difference
All Electricity$173.99$170.801.9%
Phone $30.05$28.266.3%
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%
Waukegan, IL88,67199-1%
North Chicago, IL30,76099-1%
Zion, IL24,29299-1%
Round Lake Beach, IL28,048100-0%
Gages Lake, IL10,33011111%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Kendall Park, NJ10,33113232%
Tamalpais-Homestead Valley, CA10,331219119%
Montgomery, OH10,33211717%
Richmond Hill, GA10,3341044%
Eunice, LA10,32581-19%
Gages Lake, IL10,33011111%
Source: The Gages 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.