Lake Holiday 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.
IndexLake HolidayIllinoisNational
Cost of living index10598100
IndexLake HolidayIllinoisNational
Goods & Services index9697100
Groceries index10197100
Health care index107100100
Housing index12099100
Transportation index115104100
Utilities index8895100
The above illustration supplies generalized information for the Lake Holiday, IL cost of living index. Compared to other cities in Illinois and cities across the country, the cost of living index in Lake Holiday, IL is 105, which is 7% higher than the Illinois average and 5% 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 Lake Holiday, IL are 1% lower than the average for Illinois and 4% lower than the rest of the country.

Did you know?

  • The cost of living in Lake Holiday is 7% higher than the Illinois average.
  • The cost of living in Lake Holiday is 5% higher than the national average.
  • The cost of housing in Lake Holiday 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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Compare Lake Holiday, IL Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in Lake Holiday, IL to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Lake Holiday, IL, then you would need to earn more income in order to maintain the same standard of living. To use the Lake Holiday, IL salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$79,728$6,644$1,860$2,392
Renters$42,424$3,535$990$1,273
One can approximate the cost of living and the housing affordability in Lake Holiday, 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 Lake Holiday, IL have a median income of $79,728. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,860 per month to avoid calamity and poverty. The renters in the city have an income of about $42,424, which would make their monthly maximum allowable rental costs $990.

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%
One thing to keep in mind when considering the cost of living in Lake Holiday, 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

ItemLake HolidayNational avg.Difference
Haircut $16.46$15.565.8%
Beauty Salon $38.52$36.116.7%
Toothpaste $3.27$2.4732.1%
Shampoo $0.96$0.960.9%
Movie $9.71$10.134.1%
Bowling $3.86$4.7418.5%

Groceries

ItemLake HolidayNational avg.Difference
Ground Beef $4.22$3.985.9%
Fried Chicken $1.29$1.418.3%
Milk $2.38$2.0615.5%
Potatoes $2.83$2.985.1%
Pizza $8.74$9.477.7%
Beer $8.25$8.796.2%

Health Care

ItemLake HolidayNational avg.Difference
Optometrist $110.97$101.049.8%
Doctor $137.35$107.4427.8%
Dentist $89.33$90.421.2%
Ibuprofen $8.99$9.283.1%
Lipitor $425.63$426.500.2%

Housing

ItemLake HolidayNational avg.Difference
Home Price $187,900.00$175,700.006.9%
Avg. Mortgage Payment $994.19$1,133.2312.3%
Apartment Rent $1,399.00$920.0052.1%

Transportation

ItemLake HolidayNational avg.Difference
Gasoline $2.20$1.9910.5%
Tire Balancing $56.85$45.7624.2%

Utilities

ItemLake HolidayNational avg.Difference
All Electricity$141.76$163.8113.5%
Phone $25.99$28.398.4%
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.
Earlville, IL1,72989-11%
Lee, IL33588-12%
Leland, IL88894-6%
Sheridan, IL2,02695-5%
Waterman, IL1,48192-8%
Lake Holiday, IL4,7381055%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Newton Falls, OH4,74084-16%
Higginsville, MO4,74086-14%
Harrington Park, NJ4,73616666%
Boulder Creek, CA4,74115454%
Smith Mills, MA4,74111616%
Lake Holiday, IL4,7381055%
Source: The Lake Holiday, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.