Lake Zurich 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 ZurichIllinoisNational
Cost of living index12499100
IndexLake ZurichIllinoisNational
Goods & Services index10698100
Groceries index10899100
Health care index100101100
Housing index16499100
Transportation index11297100
Utilities index104101100
The above illustration supplies generalized information for the Lake Zurich, IL cost of living index. Compared to other cities in Illinois and cities across the country, the cost of living index in Lake Zurich, IL is 124, which is 25% higher than the Illinois average and 24% 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 Zurich, 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 Lake Zurich is 25% higher than the Illinois average.
  • The cost of living in Lake Zurich is 24% higher than the national average.
  • The cost of housing in Lake Zurich is 64% 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 Zurich, IL Cost of living To Other Cities

Salary Calculator

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Using the salary calculator lets you compare the salary you earn in Lake Zurich, 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 Lake Zurich, IL, you have to earn a higher income in order to still have the same standard of living. To operate the Lake Zurich, 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$115,641$9,637$2,698$3,470
Renters$50,104$4,175$1,169$1,503
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Lake Zurich, IL, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Lake Zurich, IL has a median income of about $115,641 for people who own homes. Based on that number, a person should spend a maximum of $2,698 on expenses related to housing. Renters have a slightly different median income, which is $50,104. Based on this average, renters should spend no more than $1,169 on all of their rental costs if they want to maintain a non-impoverished standard of living.

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%
The Illinois sales tax and Illinois income tax rates should definitely be considered when determining the overall cost of living in Lake Zurich, IL. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Illinois sales tax is 6.25% and the maximum surtax is 9.75%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Illinois income tax rates range from 3.75% to 3.75%.

Goods & Services

ItemLake ZurichNational 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

ItemLake ZurichNational 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

ItemLake ZurichNational 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

ItemLake ZurichNational avg.Difference
Home Price $316,500.00$175,700.0080.1%
Avg. Mortgage Payment $1,500.61$1,081.0338.8%
Apartment Rent $1,162.00$920.0026.3%

Transportation

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

Utilities

ItemLake ZurichNational 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%
Round Lake Beach, IL28,048100-0%
McCullom Lake, IL1,00193-7%
Lake Zurich, IL19,84912424%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Williston, ND19,84999-1%
Mead Valley, CA19,8511077%
Ypsilanti, MI19,84488-12%
Cartersville, GA19,85896-4%
Plattsburgh, NY19,8401033%
Lake Zurich, IL19,84912424%
Source: The Lake Zurich, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.