Macomb 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.
IndexMacombIllinoisNational
Cost of living index8299100
IndexMacombIllinoisNational
Goods & Services index87101100
Groceries index9097100
Health care index99101100
Housing index6195100
Transportation index92105100
Utilities index10696100
Here we can see a simple outline of the cost of living in Macomb, IL. As you can see, with the average cost of living in Macomb, IL being 82, that puts it 17% lower than the average of Illinois and 18% 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 Macomb, IL, the price of goods and services are 14% lower than the average of Illinois as well as 13% lower than the nation's average.

Did you know?

  • The cost of living in Macomb is 17% lower than the Illinois average.
  • The cost of living in Macomb is 18% lower than the national average.
  • The cost of housing in Macomb is 39% 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.

Find Real Estate Listings In Macomb

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Macomb

Compare Macomb, 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
Use the salary calculator to compare your current salary in Macomb, 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 Macomb, IL, then you would need to earn more income in order to maintain the same standard of living. To use the Macomb, 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$75,288$6,274$1,757$2,259
Renters$14,175$1,181$331$425
The affordability of the housing market in Macomb, IL as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Macomb, IL homeowners, the median income is $75,288. This indicates that a monthly maximum of $1,757 should be spent by homeowners on all housing related costs. Renters have a median income of $14,175. This indicates that renters should have a maximum of $331 used for their rent related monthly costs.

Illinois Sales Tax

StateGeneral Sales TaxWith Max Surtax
Illinois6.25%10.25%

Illinois Income Tax

StateIncome Tax (Low)Income Tax (High)
Illinois3.75%3.75%
For those who live in Macomb, 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 10.25%. 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

ItemMacombNational avg.Difference
Haircut $11.00$16.0931.6%
Beauty Salon $22.00$37.3341.1%
Toothpaste $2.78$2.4513.7%
Shampoo $0.86$1.0014.4%
Movie $9.00$10.2812.5%
Bowling $4.00$4.9318.9%

Groceries

ItemMacombNational avg.Difference
Ground Beef $3.05$3.8019.9%
Fried Chicken $1.48$1.405.7%
Milk $2.11$2.014.9%
Potatoes $2.73$3.019.3%
Pizza $7.66$9.8922.5%
Beer $8.48$8.904.7%

Health Care

ItemMacombNational avg.Difference
Optometrist $85.67$102.1616.1%
Doctor $121.00$108.3611.7%
Dentist $75.67$92.5318.2%
Ibuprofen $9.57$9.283.1%
Lipitor $480.82$425.8212.9%

Housing

ItemMacombNational avg.Difference
Home Price $105,900.00$184,700.0042.7%
Avg. Mortgage Payment $818.36$1,202.4431.9%
Apartment Rent $666.00$949.0029.8%

Transportation

ItemMacombNational avg.Difference
Gasoline $2.27$2.240.9%
Tire Balancing $34.00$46.2926.6%

Utilities

ItemMacombNational avg.Difference
All Electricity$176.36$165.966.3%
Phone $30.52$28.686.4%
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.
Adair, IL17872-28%
Bardolph, IL27372-28%
Plymouth, IL38373-27%
Bushnell, IL2,83874-26%
Avon, IL80375-25%
Macomb, IL18,77182-18%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Mill Creek East, WA18,77115050%
East Hemet, CA18,7641088%
North Salt Lake, UT18,7531055%
Arlington, WA18,74911414%
Secaucus, NJ18,73715757%
Macomb, IL18,77182-18%
Source: The Macomb, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.