Marengo 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.
IndexMarengoIllinoisNational
Cost of living index9699100
IndexMarengoIllinoisNational
Goods & Services index9698100
Groceries index9699100
Health care index103101100
Housing index9499100
Transportation index9997100
Utilities index95101100
A general overview of the cost of living index for Marengo, IL is displayed above. In Marengo, IL, the overall cost of living index is 96, which is 3% lower than the Illinois average and 4% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Marengo, IL, the city's goods and services are 2% lower than the Illinois average and 4% lower than the U.S. average.

Did you know?

  • The cost of living in Marengo is 3% lower than the Illinois average.
  • The cost of living in Marengo is 4% lower than the national average.
  • The cost of housing in Marengo is 6% 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

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The salary calculator allows you to compare how much your current salary in Marengo, IL would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Marengo, IL, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Marengo, IL salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$70,308$5,859$1,640$2,109
Renters$36,250$3,021$846$1,088
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Marengo, IL as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Marengo, IL homeowners, is $70,308. This would allow for a maximum of $1,640 per month to be spent on housing costs. For renters, the median monthly income is $36,250 which would result in a maximum of $846 to be spent on rental costs.

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 Marengo, 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

ItemMarengoNational avg.Difference
Haircut $12.57$14.5913.9%
Beauty Salon $29.57$34.6814.7%
Toothpaste $1.88$2.4724.0%
Shampoo $1.00$1.022.2%
Movie $10.29$9.874.3%
Bowling $3.94$4.3910.3%

Groceries

ItemMarengoNational avg.Difference
Ground Beef $4.91$4.489.7%
Fried Chicken $1.51$1.463.1%
Milk $2.42$2.362.7%
Potatoes $2.19$3.0628.5%
Pizza $8.00$9.2413.4%
Beer $8.37$8.633.0%

Health Care

ItemMarengoNational avg.Difference
Optometrist $74.14$99.7825.7%
Doctor $112.33$105.036.9%
Dentist $89.63$88.701.0%
Ibuprofen $9.99$9.416.1%
Lipitor $319.94$298.507.2%

Housing

ItemMarengoNational avg.Difference
Home Price $162,100.00$175,700.007.7%
Avg. Mortgage Payment $777.29$1,081.0328.1%
Apartment Rent $887.00$920.003.6%

Transportation

ItemMarengoNational avg.Difference
Gasoline $1.96$2.096.5%
Tire Balancing $51.06$45.2912.8%

Utilities

ItemMarengoNational avg.Difference
All Electricity$176.07$170.803.1%
Phone $23.50$28.2616.8%
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.
Belvidere, IL25,71388-12%
Capron, IL1,79390-10%
Garden Prairie, IL23090-10%
Kirkland, IL1,79192-8%
Harvard, IL9,82992-8%
Marengo, IL7,45196-4%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Orland, CA7,45111717%
Woodlake, CA7,45294-6%
Pinehurst, MA7,45214444%
North Bay Village, FL7,45311616%
Lake of the Woods, VA7,45411515%
Marengo, IL7,45196-4%
Source: The Marengo, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.