Hometown 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.
IndexHometownIllinoisNational
Cost of living index9399100
IndexHometownIllinoisNational
Goods & Services index10698100
Groceries index10899100
Health care index100101100
Housing index6399100
Transportation index11297100
Utilities index104101100
Here we can see a simple outline of the cost of living in Hometown, IL. As you can see, with the average cost of living in Hometown, IL being 93, that puts it 6% lower than the average of Illinois and 7% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Hometown, IL, the price of goods and services are 8% higher than the average of Illinois as well as 6% higher than the nation's average.

Did you know?

  • The cost of living in Hometown is 6% lower than the Illinois average.
  • The cost of living in Hometown is 7% lower than the national average.
  • The cost of housing in Hometown is 37% 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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Compare Hometown, 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 Hometown, 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 Hometown, IL, you have to earn a higher income in order to still have the same standard of living. To operate the Hometown, 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$51,625$4,302$1,205$1,549
Renters$37,174$3,098$867$1,115
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Hometown, IL, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Hometown, IL homeowners have a median income of $51,625. Using that number, you will come up with a maximum of $1,205 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $37,174, which means there is a maximum of $867 to be spent on the costs of renting a home or apartment.

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 assessing the complete cost of living in Hometown, 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

ItemHometownNational 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

ItemHometownNational 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

ItemHometownNational 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

ItemHometownNational avg.Difference
Home Price $119,600.00$175,700.0031.9%
Avg. Mortgage Payment $1,500.61$1,081.0338.8%
Apartment Rent $467.00$920.0049.2%

Transportation

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

Utilities

ItemHometownNational 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%
Hodgkins, IL2,18588-12%
East Chicago, IN29,38791-9%
Robbins, IL5,22191-9%
Harvey, IL25,22592-8%
Hometown, IL4,35893-7%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
St. Bernard, OH4,35885-15%
Wolverine Lake, MI4,35793-7%
Atlantic Highlands, NJ4,35715454%
Sebring, OH4,36076-24%
Brownsville, LA4,35679-21%
Hometown, IL4,35893-7%
Source: The Hometown, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.