Cost Of Living In Pekin, IL

Pekin 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.
Index	Pekin	Illinois	National
Cost of living index	87	98	100
Index	Pekin	Illinois	National
Goods & Services index	97	97	100
Groceries index	94	97	100
Health care index	100	100	100
Housing index	61	99	100
Transportation index	98	104	100
Utilities index	109	95	100

Displayed above is a general overview of the Pekin, IL cost of living index. The overall cost of living index in Pekin, IL is 87, which is 11% lower than the Illinois average and 13% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Pekin, IL are equal to the Illinois average and 4% lower than the national average.

Did you know?

The cost of living in Pekin is 11% lower than the Illinois average.
The cost of living in Pekin is 13% lower than the national average.
The cost of housing in Pekin 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.

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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 income in Pekin, 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 Pekin, IL, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Pekin, 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 Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$56,486	$4,707	$1,318	$1,695
Renters	$30,396	$2,533	$709	$912

The affordability of the housing market in Pekin, 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 Pekin, IL homeowners, the median income is $56,486. This indicates that a monthly maximum of $1,318 should be spent by homeowners on all housing related costs. Renters have a median income of $30,396. This indicates that renters should have a maximum of $709 used for their rent related monthly costs.

Illinois Sales Tax

State	General Sales Tax	With Max Surtax
Illinois	6.25%	9.75%

Illinois Income Tax

State	Income Tax (Low)	Income Tax (High)
Illinois	3.75%	3.75%

The Illinois sales tax and Illinois income tax rates should definitely be considered when determining the overall cost of living in Pekin, 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

Item	Pekin	National avg.	Difference
Haircut	$15.11	$15.56	2.9%
Beauty Salon	$21.67	$36.11	40.0%
Toothpaste	$2.14	$2.47	13.3%
Shampoo	$0.81	$0.96	15.7%
Movie	$6.18	$10.13	38.9%
Bowling	$3.63	$4.74	23.4%

Groceries

Item	Pekin	National avg.	Difference
Ground Beef	$3.58	$3.98	10.1%
Fried Chicken	$1.44	$1.41	2.6%
Milk	$1.39	$2.06	32.8%
Potatoes	$3.08	$2.98	3.2%
Pizza	$8.99	$9.47	5.1%
Beer	$8.88	$8.79	0.9%

Health Care

Item	Pekin	National avg.	Difference
Optometrist	$126.17	$101.04	24.9%
Doctor	$103.92	$107.44	3.3%
Dentist	$88.83	$90.42	1.8%
Ibuprofen	$8.14	$9.28	12.2%
Lipitor	$437.66	$426.50	2.6%

Housing

Item	Pekin	National avg.	Difference
Home Price	$99,200.00	$175,700.00	43.5%
Avg. Mortgage Payment	$1,181.59	$1,133.23	4.3%
Apartment Rent	$650.00	$920.00	29.3%

Transportation

Item	Pekin	National avg.	Difference
Gasoline	$1.99	$1.99	0.1%
Tire Balancing	$43.30	$45.76	5.4%

Utilities

Item	Pekin	National avg.	Difference
All Electricity	$183.30	$163.81	11.9%
Phone	$29.99	$28.39	5.6%

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, State	Population	Cost of Living Index	National Avg.
Kingston Mines, IL	253	83	-17%
Forest City, IL	232	84	-16%
Glasford, IL	1,018	85	-15%
South Pekin, IL	1,160	85	-15%
Norwood, IL	453	86	-14%
Pekin, IL	33,928	87	-13%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Cottonwood Heights, UT	33,932	112	12%
San Dimas, CA	33,896	145	45%
Oildale, CA	33,879	100	0%
New City, NY	33,874	147	47%
Dana Point, CA	33,861	181	81%
Pekin, IL	33,928	87	-13%

Source: The Pekin, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.

Pekin, IL Cost of Living