Swansea 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.
IndexSwanseaIllinoisNational
Cost of living index9899100
IndexSwanseaIllinoisNational
Goods & Services index9798100
Groceries index10199100
Health care index101101100
Housing index9599100
Transportation index9297100
Utilities index114101100
A general overview of the cost of living index for Swansea, IL is displayed above. In Swansea, IL, the overall cost of living index is 98, which is 1% lower than the Illinois average and 2% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Swansea, IL, the city's goods and services are 2% lower than the Illinois average and 3% lower than the U.S. average.

Did you know?

  • The cost of living in Swansea is 1% lower than the Illinois average.
  • The cost of living in Swansea is 2% lower than the national average.
  • The cost of housing in Swansea is 5% 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.

Find Real Estate Listings In Swansea

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Swansea

Compare Swansea, IL Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
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 Swansea, 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 Swansea, IL, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Swansea, 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$82,012$6,834$1,913$2,461
Renters$33,386$2,782$779$1,002
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Swansea, IL, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Swansea, IL has a median income of about $82,012 for people who own homes. Based on that number, a person should spend a maximum of $1,913 on expenses related to housing. Renters have a slightly different median income, which is $33,386. Based on this average, renters should spend no more than $779 on all of their rental costs if they want to maintain a non-impoverished standard of living.

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 Swansea, 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

ItemSwanseaNational avg.Difference
Haircut $16.17$14.5910.8%
Beauty Salon $34.85$34.680.5%
Toothpaste $2.47$2.470.1%
Shampoo $0.87$1.0214.9%
Movie $10.46$9.876.0%
Bowling $3.64$4.3917.1%

Groceries

ItemSwanseaNational avg.Difference
Ground Beef $5.69$4.4827.1%
Fried Chicken $1.99$1.4635.9%
Milk $2.61$2.3610.7%
Potatoes $2.41$3.0621.3%
Pizza $8.39$9.249.2%
Beer $7.99$8.637.4%

Health Care

ItemSwanseaNational avg.Difference
Optometrist $83.00$99.7816.8%
Doctor $98.56$105.036.2%
Dentist $93.75$88.705.7%
Ibuprofen $10.71$9.4113.8%
Lipitor $306.38$298.502.6%

Housing

ItemSwanseaNational avg.Difference
Home Price $162,300.00$175,700.007.6%
Avg. Mortgage Payment $711.37$1,081.0334.2%
Apartment Rent $938.00$920.002.0%

Transportation

ItemSwanseaNational avg.Difference
Gasoline $1.86$2.0910.9%
Tire Balancing $44.70$45.291.3%

Utilities

ItemSwanseaNational avg.Difference
All Electricity$164.26$170.803.8%
Phone $39.44$28.2639.6%
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, StatePopulationCost of Living IndexNational Avg.
Paderborn, IL53100-0%
Rentchler, IL0100-0%
Floraville, IL0100-0%
Brooklyn, IL80779-21%
Alorton, IL1,72980-20%
Swansea, IL13,87098-2%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Mountain Home, ID13,87188-12%
Bonita, CA13,86415555%
Kings Park West, VA13,86414949%
Fort Mohave, AZ13,86291-9%
Franklin Park, PA13,88212222%
Swansea, IL13,87098-2%
Source: The Swansea, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.