Glenwood 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.
IndexGlenwoodIllinoisNational
Cost of living index10099100
IndexGlenwoodIllinoisNational
Goods & Services index10698100
Groceries index10899100
Health care index100101100
Housing index8499100
Transportation index11297100
Utilities index104101100
The above illustration supplies generalized information for the Glenwood, IL cost of living index. Compared to other cities in Illinois and cities across the country, the cost of living index in Glenwood, IL is 100, which is 1% higher than the Illinois average and equal to 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 Glenwood, 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 Glenwood is 1% higher than the Illinois average.
  • The cost of living in Glenwood is equal to the national average.
  • The cost of housing in Glenwood is 16% 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.

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Salary Calculator

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Groceries index
Health care index
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The salary calculator allows you to compare how much your current salary in Glenwood, IL would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Glenwood, IL, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Glenwood, IL salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$56,268$4,689$1,313$1,688
Renters$29,569$2,464$690$887
One can approximate the cost of living and the housing affordability in Glenwood, IL by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Glenwood, IL have a median income of $56,268. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,313 per month to avoid calamity and poverty. The renters in the city have an income of about $29,569, which would make their monthly maximum allowable rental costs $690.

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%
For those who live in Glenwood, IL and want to know what the true cost of living is, they ought to look at both the Illinois income tax rate and the Illinois sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Illinois, the sales tax is 6.25%, while the most you'll pay in surtax is 9.75%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Illinois, the income tax rate ranges between 3.75% to 3.75%.

Goods & Services

ItemGlenwoodNational 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%

Groceries

ItemGlenwoodNational 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

ItemGlenwoodNational 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%

Housing

ItemGlenwoodNational avg.Difference
Home Price $132,600.00$175,700.0024.5%
Avg. Mortgage Payment $1,500.61$1,081.0338.8%
Apartment Rent $960.00$920.004.3%

Transportation

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

Utilities

ItemGlenwoodNational 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.
Dixmoor, IL3,63587-13%
Gary, IN79,16589-11%
Ford Heights, IL2,77786-14%
East Chicago, IN29,38791-9%
Robbins, IL5,22191-9%
Glenwood, IL9,040100-0%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Broussard, LA9,04193-7%
Sweet Home, OR9,0421011%
Grimes, IA9,03795-5%
Succasunna, NJ9,04714141%
Covington, TN9,03382-18%
Glenwood, IL9,040100-0%
Source: The Glenwood, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.