Godfrey 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.
Cost of living index9599100
Goods & Services index9798100
Groceries index10199100
Health care index101101100
Housing index8499100
Transportation index9297100
Utilities index114101100
An overview of the general cost of living index for Godfrey, IL is displayed above for your reference. Residents in Godfrey, IL enjoy a cost of living index of 95. This index is 4% lower than the Illinois average, and 5% lower than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Godfrey, IL, the average cost of goods and services is 2% lower than it is in Illinois, and it is 3% lower than the national average.

Did you know?

  • The cost of living in Godfrey is 4% lower than the Illinois average.
  • The cost of living in Godfrey is 5% lower than the national average.
  • The cost of housing in Godfrey 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

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 Godfrey, 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 Godfrey, IL, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Godfrey, 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 Godfrey, 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 Godfrey, IL, the median monthly income is $67,024 for those who own their own homes. Under the standard rule, that income level would allow for $1,564 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $37,419, per the median income in the area. That would allow for renters to spend up to $873 on monthly rental expenses.

Illinois Sales Tax

StateGeneral Sales TaxWith Max Surtax

Illinois Income Tax

StateIncome Tax (Low)Income Tax (High)
When assessing the complete cost of living in Godfrey, IL, the Illinois income tax and the Illinois sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Illinois maximum surtax is 9.75%, and the Illinois sales tax is 6.25%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 3.75% to 3.75% in Illinois.

Goods & Services

ItemGodfreyNational avg.Difference
Haircut $16.17$14.5910.8%
Beauty Salon $34.85$34.680.5%
Toothpaste $2.47$2.470.1%
Shampoo $0.87$1.0214.9%
Movie $10.46$9.876.0%
Bowling $3.64$4.3917.1%


ItemGodfreyNational avg.Difference
Ground Beef $5.69$4.4827.1%
Fried Chicken $1.99$1.4635.9%
Milk $2.61$2.3610.7%
Potatoes $2.41$3.0621.3%
Pizza $8.39$9.249.2%
Beer $7.99$8.637.4%

Health Care

ItemGodfreyNational avg.Difference
Optometrist $83.00$99.7816.8%
Doctor $98.56$105.036.2%
Dentist $93.75$88.705.7%
Ibuprofen $10.71$9.4113.8%
Lipitor $306.38$298.502.6%


ItemGodfreyNational avg.Difference
Home Price $140,500.00$175,700.0020.0%
Avg. Mortgage Payment $711.37$1,081.0334.2%
Apartment Rent $846.00$920.008.0%


ItemGodfreyNational avg.Difference
Gasoline $1.86$2.0910.9%
Tire Balancing $44.70$45.291.3%


ItemGodfreyNational avg.Difference
All Electricity$164.26$170.803.8%
Phone $39.44$28.2639.6%
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.
Champ, MO11100-0%
Fidelity, IL14078-22%
Otterville, IL11882-18%
Royal Lakes, IL13282-18%
Fieldon, IL22483-17%
Godfrey, IL17,91195-5%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Hopkins, MN17,9091077%
Mattoon, IL17,90682-18%
Bayshore Gardens, FL17,89990-10%
Albert Lea, MN17,93181-19%
Logansport, IN17,93379-21%
Godfrey, IL17,91195-5%
Source: The Godfrey, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.