Round Lake Beach 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.
IndexRound Lake BeachIllinoisNational
Cost of living index10198100
IndexRound Lake BeachIllinoisNational
Goods & Services index10897100
Groceries index10897100
Health care index103100100
Housing index8599100
Transportation index126104100
Utilities index9595100
Here we can see a simple outline of the cost of living in Round Lake Beach, IL. As you can see, with the average cost of living in Round Lake Beach, IL being 101, that puts it 3% higher than the average of Illinois and 1% higher 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 Round Lake Beach, IL, the price of goods and services are 12% higher than the average of Illinois as well as 8% higher than the nation's average.

Did you know?

  • The cost of living in Round Lake Beach is 3% higher than the Illinois average.
  • The cost of living in Round Lake Beach is 1% higher than the national average.
  • The cost of housing in Round Lake Beach is 15% 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 Round Lake Beach, IL Cost of living To Other Cities

Salary Calculator

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Goods & Services index
Groceries index
Health care index
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The salary calculator is meant to help you compare your salary in Round Lake Beach, IL to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Round Lake Beach, IL, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Round Lake Beach, IL salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$65,613$5,468$1,531$1,969
Renters$33,421$2,785$780$1,003
One can approximate the cost of living and the housing affordability in Round Lake Beach, IL by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Round Lake Beach, IL have a median income of $65,613. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,531 per month to avoid calamity and poverty. The renters in the city have an income of about $33,421, which would make their monthly maximum allowable rental costs $780.

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 Round Lake Beach, 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

ItemRound Lake BeachNational 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

ItemRound Lake BeachNational 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

ItemRound Lake BeachNational 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

ItemRound Lake BeachNational avg.Difference
Home Price $131,000.00$175,700.0025.4%
Avg. Mortgage Payment $1,611.36$1,133.2342.2%
Apartment Rent $999.00$920.008.6%

Transportation

ItemRound Lake BeachNational avg.Difference
Gasoline $2.57$1.9928.9%
Tire Balancing $54.44$45.7619.0%

Utilities

ItemRound Lake BeachNational 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.
Park City, IL7,55186-14%
Lake Ivanhoe, WI51294-6%
Waukegan, IL88,6711000%
North Chicago, IL30,7601011%
Zion, IL24,29295-5%
Round Lake Beach, IL28,0481011%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Monterey, CA28,05317676%
Savage, MN28,05511313%
Shaker Heights, OH28,0711077%
Rahway, NJ27,99412323%
Oak Forest, IL28,1041011%
Round Lake Beach, IL28,0481011%
Source: The Round Lake Beach, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.