Markham 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.
IndexMarkhamIllinoisNational
Cost of living index10098100
IndexMarkhamIllinoisNational
Goods & Services index10897100
Groceries index10897100
Health care index103100100
Housing index7999100
Transportation index126104100
Utilities index9595100
A general overview of the cost of living index for Markham, IL is displayed above. In Markham, IL, the overall cost of living index is 100, which is 2% higher than the Illinois average and equal to 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 Markham, IL, the city's goods and services are 12% higher than the Illinois average and 8% higher than the U.S. average.

Did you know?

  • The cost of living in Markham is 2% higher than the Illinois average.
  • The cost of living in Markham is equal to the national average.
  • The cost of housing in Markham is 21% 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 Markham, IL Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current income in Markham, IL to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Markham, IL, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Markham, IL salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$47,433$3,953$1,107$1,423
Renters$9,086$757$212$273
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Markham, 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 Markham, IL homeowners, is $47,433. This would allow for a maximum of $1,107 per month to be spent on housing costs. For renters, the median monthly income is $9,086 which would result in a maximum of $212 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 Markham, 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

ItemMarkhamNational avg.Difference
Haircut $17.44$15.5612.1%
Beauty Salon $55.00$36.1152.3%
Toothpaste $2.68$2.478.3%
Shampoo $1.00$0.963.6%
Movie $13.20$10.1330.3%
Bowling $8.00$4.7468.9%

Groceries

ItemMarkhamNational avg.Difference
Ground Beef $4.57$3.9814.6%
Fried Chicken $1.67$1.4118.4%
Milk $1.94$2.065.8%
Potatoes $3.51$2.9817.6%
Pizza $9.99$9.475.5%
Beer $8.73$8.790.7%

Health Care

ItemMarkhamNational avg.Difference
Optometrist $95.00$101.046.0%
Doctor $99.17$107.447.7%
Dentist $101.11$90.4211.8%
Ibuprofen $9.80$9.285.6%
Lipitor $421.75$426.501.1%

Housing

ItemMarkhamNational avg.Difference
Home Price $103,200.00$175,700.0041.3%
Avg. Mortgage Payment $1,611.36$1,133.2342.2%
Apartment Rent $1,168.00$920.0027.0%

Transportation

ItemMarkhamNational avg.Difference
Gasoline $2.57$1.9928.9%
Tire Balancing $54.44$45.7619.0%

Utilities

ItemMarkhamNational avg.Difference
All Electricity$150.85$163.817.9%
Phone $28.44$28.390.2%
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, IL3,63588-12%
Hodgkins, IL2,18589-11%
Ford Heights, IL2,77792-8%
East Chicago, IN29,38792-8%
Robbins, IL5,22192-8%
Markham, IL12,625100-0%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Mount Sinai, NY12,62015454%
Boone, IA12,61984-16%
Waunakee, WI12,61311919%
Forest Hill, TX12,61293-7%
Green River, WY12,60099-1%
Markham, IL12,625100-0%
Source: The Markham, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.