Rolling Meadows 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.
IndexRolling MeadowsIllinoisNational
Cost of living index11399100
IndexRolling MeadowsIllinoisNational
Goods & Services index10698100
Groceries index10899100
Health care index100101100
Housing index12899100
Transportation index11297100
Utilities index104101100
A general summary of the cost of living index in Rolling Meadows, IL is shown above. Compared to the state average of Illinois the cost of living index in Rolling Meadows, IL is 113, which is 14% higher than the average in Illinois and compared to the national average it is 13% higher than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Rolling Meadows, IL goods and services come in at 8% higher than the average in Illinois and are 6% higher than compared to the nationwide average.

Did you know?

  • The cost of living in Rolling Meadows is 14% higher than the Illinois average.
  • The cost of living in Rolling Meadows is 13% higher than the national average.
  • The cost of housing in Rolling Meadows is 28% 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 Rolling Meadows, IL Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current income in Rolling Meadows, 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 Rolling Meadows, IL, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Rolling Meadows, 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$73,615$6,135$1,718$2,209
Renters$45,739$3,812$1,067$1,372
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Rolling Meadows, 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 Rolling Meadows, IL homeowners have a median income of $73,615. Using that number, you will come up with a maximum of $1,718 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $45,739, which means there is a maximum of $1,067 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 you are determining the total cost of living in Rolling Meadows, IL you will want to make sure you consider both the Illinois sales tax and the Illinois income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Illinois is 6.25%, with the highest surtax being 9.75%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Illinois have a range from 3.75% to 3.75%.

Goods & Services

ItemRolling MeadowsNational avg.Difference
Haircut $17.50$14.5919.9%
Beauty Salon $45.00$34.6829.8%
Toothpaste $2.34$2.475.4%
Shampoo $0.99$1.023.1%
Movie $13.75$9.8739.3%
Bowling $5.00$4.3913.9%

Groceries

ItemRolling MeadowsNational avg.Difference
Ground Beef $5.37$4.4820.0%
Fried Chicken $1.42$1.463.0%
Milk $1.74$2.3626.2%
Potatoes $2.50$3.0618.3%
Pizza $10.99$9.2418.9%
Beer $14.25$8.6365.1%

Health Care

ItemRolling MeadowsNational avg.Difference
Optometrist $95.00$99.784.8%
Doctor $100.00$105.034.8%
Dentist $100.00$88.7012.7%
Ibuprofen $9.24$9.411.8%
Lipitor $262.00$298.5012.2%

Housing

ItemRolling MeadowsNational avg.Difference
Home Price $225,200.00$175,700.0028.2%
Avg. Mortgage Payment $1,500.61$1,081.0338.8%
Apartment Rent $1,169.00$920.0027.1%

Transportation

ItemRolling MeadowsNational avg.Difference
Gasoline $2.29$2.099.5%
Tire Balancing $53.31$45.2917.7%

Utilities

ItemRolling MeadowsNational avg.Difference
All Electricity$173.99$170.801.9%
Phone $30.05$28.266.3%
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.
Bellwood, IL19,14999-1%
Maywood, IL24,148100-0%
Stone Park, IL4,9591011%
Broadview, IL7,9561011%
Carpentersville, IL38,1281022%
Rolling Meadows, IL23,64611313%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Loma Linda, CA23,64812020%
Mercer Island, WA23,636200100%
Corcoran, CA23,63495-5%
Greenbelt, MD23,6121099%
Rock Springs, WY23,6841000%
Rolling Meadows, IL23,64611313%
Source: The Rolling Meadows, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.