Spring Valley 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.
IndexSpring ValleyIllinoisNational
Cost of living index8899100
IndexSpring ValleyIllinoisNational
Goods & Services index9898100
Groceries index9899100
Health care index96101100
Housing index6699100
Transportation index9897100
Utilities index98101100
An overview of the general cost of living index for Spring Valley, IL is displayed above for your reference. Residents in Spring Valley, IL enjoy a cost of living index of 88. This index is 11% lower than the Illinois average, and 12% lower 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 Spring Valley, IL, the average cost of goods and services is equal to it is in Illinois, and it is 2% lower than the national average.

Did you know?

  • The cost of living in Spring Valley is 11% lower than the Illinois average.
  • The cost of living in Spring Valley is 12% lower than the national average.
  • The cost of housing in Spring Valley is 34% 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 Spring Valley, IL Cost of living To Other Cities

Salary Calculator

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Using the salary calculator lets you compare the salary you earn in Spring Valley, IL to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Spring Valley, IL, you have to earn a higher income in order to still have the same standard of living. To operate the Spring Valley, IL salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$54,084$4,507$1,262$1,623
Renters$23,076$1,923$538$692
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Spring Valley, 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 Spring Valley, IL homeowners, is $54,084. This would allow for a maximum of $1,262 per month to be spent on housing costs. For renters, the median monthly income is $23,076 which would result in a maximum of $538 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 assessing the complete cost of living in Spring Valley, 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

ItemSpring ValleyNational avg.Difference
Haircut $17.00$14.5916.5%
Beauty Salon $19.00$34.6845.2%
Toothpaste $2.27$2.478.2%
Shampoo $0.83$1.0218.8%
Movie $8.75$9.8711.3%
Bowling $3.50$4.3920.3%

Groceries

ItemSpring ValleyNational avg.Difference
Ground Beef $4.02$4.4810.2%
Fried Chicken $1.49$1.461.8%
Milk $2.12$2.3610.0%
Potatoes $3.31$3.068.1%
Pizza $8.99$9.242.7%
Beer $7.92$8.638.3%

Health Care

ItemSpring ValleyNational avg.Difference
Optometrist $122.03$99.7822.3%
Doctor $97.00$105.037.6%
Dentist $82.00$88.707.6%
Ibuprofen $7.98$9.4115.2%
Lipitor $301.39$298.501.0%

Housing

ItemSpring ValleyNational avg.Difference
Home Price $104,200.00$175,700.0040.7%
Avg. Mortgage Payment $1,155.44$1,081.036.9%
Apartment Rent $739.00$920.0019.7%

Transportation

ItemSpring ValleyNational avg.Difference
Gasoline $1.95$2.096.8%
Tire Balancing $50.00$45.2910.4%

Utilities

ItemSpring ValleyNational avg.Difference
All Electricity$157.04$170.808.1%
Phone $29.99$28.266.1%
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.
Dover, IL15181-19%
Bureau Junction, IL23782-18%
Magnolia, IL34583-17%
Cherry, IL42983-17%
Leonore, IL7783-17%
Spring Valley, IL5,44188-12%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Nephi, UT5,44296-4%
Eastman, GA5,44283-17%
Falcon Heights, MN5,43911414%
Mount Carmel, TN5,44390-10%
Cameron, TX5,44579-21%
Spring Valley, IL5,44188-12%
Source: The Spring Valley, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.