Peotone 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.
IndexPeotoneIllinoisNational
Cost of living index9999100
IndexPeotoneIllinoisNational
Goods & Services index9698100
Groceries index9099100
Health care index104101100
Housing index9999100
Transportation index10197100
Utilities index117101100
Here we can see a simple outline of the cost of living in Peotone, IL. As you can see, with the average cost of living in Peotone, IL being 99, that puts it equal to the average of Illinois and 1% 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 Peotone, IL, the price of goods and services are 2% lower than the average of Illinois as well as 4% lower than the nation's average.

Did you know?

  • The cost of living in Peotone is equal to the Illinois average.
  • The cost of living in Peotone is 1% lower than the national average.
  • The cost of housing in Peotone is 1% 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 Peotone, IL Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Health care index
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The salary calculator is used in order to provide a comparison of your current salary in Peotone, 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 Peotone, IL, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Peotone, 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$79,196$6,600$1,848$2,376
Renters$57,656$4,805$1,345$1,730
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Peotone, 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 Peotone, IL homeowners, is $79,196. This would allow for a maximum of $1,848 per month to be spent on housing costs. For renters, the median monthly income is $57,656 which would result in a maximum of $1,345 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 considering the overall cost of living expenses in Peotone, IL, it's important to take into account the sales tax for Illinois, as well as the rate for income tax in Illinois. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Illinois is 9.75%, and the sales tax in the state of Illinois is 6.25%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Illinois starts from 3.75% and goes up to 3.75%.

Goods & Services

ItemPeotoneNational avg.Difference
Haircut $13.67$14.596.3%
Beauty Salon $26.25$34.6824.3%
Toothpaste $1.98$2.4719.9%
Shampoo $0.88$1.0213.9%
Movie $7.50$9.8724.0%
Bowling $4.00$4.398.9%

Groceries

ItemPeotoneNational avg.Difference
Ground Beef $5.65$4.4826.2%
Fried Chicken $1.05$1.4628.3%
Milk $2.18$2.367.5%
Potatoes $3.32$3.068.4%
Pizza $10.34$9.2411.9%
Beer $7.92$8.638.3%

Health Care

ItemPeotoneNational avg.Difference
Optometrist $92.33$99.787.5%
Doctor $125.50$105.0319.5%
Dentist $87.00$88.701.9%
Ibuprofen $8.32$9.4111.6%
Lipitor $314.61$298.505.4%

Housing

ItemPeotoneNational avg.Difference
Home Price $184,800.00$175,700.005.2%
Avg. Mortgage Payment $897.33$1,081.0317.0%
Apartment Rent $774.00$920.0015.9%

Transportation

ItemPeotoneNational avg.Difference
Gasoline $2.03$2.093.1%
Tire Balancing $50.65$45.2911.8%

Utilities

ItemPeotoneNational avg.Difference
All Electricity$184.03$170.807.7%
Phone $36.48$28.2629.1%
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.
Ford Heights, IL2,77786-14%
Sun River Terrace, IL45987-13%
South Chicago Heights, IL4,16489-11%
Park Forest, IL22,49090-10%
Sauk Village, IL10,54591-9%
Peotone, IL4,12299-1%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Grant, MN4,12213636%
Pennside, PA4,12299-1%
Washington Park, IL4,12082-18%
Centralia, MO4,12584-16%
Ho-Ho-Kus, NJ4,12518585%
Peotone, IL4,12299-1%
Source: The Peotone, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.