Minooka 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.
IndexMinookaIllinoisNational
Cost of living index10799100
IndexMinookaIllinoisNational
Goods & Services index9698100
Groceries index10699100
Health care index104101100
Housing index12399100
Transportation index10097100
Utilities index103101100
An overview of the general cost of living index for Minooka, IL is displayed above for your reference. Residents in Minooka, IL enjoy a cost of living index of 107. This index is 8% higher than the Illinois average, and 7% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Minooka, IL, the average cost of goods and services is 2% lower than it is in Illinois, and it is 4% lower than the national average.

Did you know?

  • The cost of living in Minooka is 8% higher than the Illinois average.
  • The cost of living in Minooka is 7% higher than the national average.
  • The cost of housing in Minooka is 23% 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 Minooka, IL Cost of living To Other Cities

Salary Calculator

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The salary calculator is used in order to provide a comparison of your current salary in Minooka, IL to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Minooka, IL, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Minooka, IL salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$96,483$8,040$2,251$2,895
Renters$31,404$2,617$733$942
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Minooka, IL, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Minooka, IL homeowners have a median income of $96,483. Using that number, you will come up with a maximum of $2,251 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $31,404, which means there is a maximum of $733 to be spent on the costs of renting a home or apartment.

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 Minooka, 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

ItemMinookaNational avg.Difference
Haircut $15.50$14.596.2%
Beauty Salon $37.40$34.687.8%
Toothpaste $3.31$2.4733.8%
Shampoo $1.53$1.0249.7%
Movie $10.26$9.874.0%
Bowling $3.51$4.3920.1%

Groceries

ItemMinookaNational avg.Difference
Ground Beef $4.21$4.486.0%
Fried Chicken $1.56$1.466.6%
Milk $2.65$2.3612.4%
Potatoes $2.78$3.069.2%
Pizza $8.86$9.244.1%
Beer $8.19$8.635.1%

Health Care

ItemMinookaNational avg.Difference
Optometrist $111.13$99.7811.4%
Doctor $129.44$105.0323.2%
Dentist $82.38$88.707.1%
Ibuprofen $8.99$9.414.5%
Lipitor $298.47$298.500.0%

Housing

ItemMinookaNational avg.Difference
Home Price $201,300.00$175,700.0014.6%
Avg. Mortgage Payment $1,023.97$1,081.035.3%
Apartment Rent $1,309.00$920.0042.3%

Transportation

ItemMinookaNational avg.Difference
Gasoline $2.03$2.093.1%
Tire Balancing $49.67$45.299.7%

Utilities

ItemMinookaNational avg.Difference
All Electricity$175.65$170.802.8%
Phone $29.20$28.263.3%
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.
Wilmington, IL14880-20%
Fairmont, IL2,38491-9%
Godley, IL62292-8%
Lakewood Shores, IL1,25093-7%
Ingalls Park, IL3,36894-6%
Minooka, IL11,2251077%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Raymondville, TX11,22669-31%
Garden City, ID11,22394-6%
Waconia, MN11,2301099%
Lake Grove, NY11,23514747%
Haysville, KS11,23589-11%
Minooka, IL11,2251077%
Source: The Minooka, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.