Vernon Hills 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.
IndexVernon HillsIllinoisNational
Cost of living index12699100
IndexVernon HillsIllinoisNational
Goods & Services index10698100
Groceries index10899100
Health care index100101100
Housing index17199100
Transportation index11297100
Utilities index104101100
A general summary of the cost of living index in Vernon Hills, IL is shown above. Compared to the state average of Illinois the cost of living index in Vernon Hills, IL is 126, which is 27% higher than the average in Illinois and compared to the national average it is 26% 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 Vernon Hills, 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 Vernon Hills is 27% higher than the Illinois average.
  • The cost of living in Vernon Hills is 26% higher than the national average.
  • The cost of housing in Vernon Hills is 71% 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.

Find Real Estate Listings In Vernon Hills

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Vernon Hills

Compare Vernon Hills, 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
Using the salary calculator lets you compare the salary you earn in Vernon Hills, 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 Vernon Hills, IL, you have to earn a higher income in order to still have the same standard of living. To operate the Vernon Hills, 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$106,716$8,893$2,490$3,202
Renters$42,896$3,575$1,001$1,287
One can approximate the cost of living and the housing affordability in Vernon Hills, 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 Vernon Hills, IL have a median income of $106,716. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,490 per month to avoid calamity and poverty. The renters in the city have an income of about $42,896, which would make their monthly maximum allowable rental costs $1,001.

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%
For those who live in Vernon Hills, IL and want to know what the true cost of living is, they ought to look at both the Illinois income tax rate and the Illinois sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Illinois, the sales tax is 6.25%, while the most you'll pay in surtax is 9.75%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Illinois, the income tax rate ranges between 3.75% to 3.75%.

Goods & Services

ItemVernon HillsNational 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

ItemVernon HillsNational 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

ItemVernon HillsNational 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

ItemVernon HillsNational avg.Difference
Home Price $315,900.00$175,700.0079.8%
Avg. Mortgage Payment $1,500.61$1,081.0338.8%
Apartment Rent $1,381.00$920.0050.1%

Transportation

ItemVernon HillsNational avg.Difference
Gasoline $2.29$2.099.5%
Tire Balancing $53.31$45.2917.7%

Utilities

ItemVernon HillsNational 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.
Park City, IL7,55185-15%
Waukegan, IL88,67199-1%
North Chicago, IL30,76099-1%
Round Lake Beach, IL28,048100-0%
Fox Lake, IL10,7571022%
Vernon Hills, IL25,53512626%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Cave Spring, VA25,54797-3%
Owatonna, MN25,55094-6%
Lebanon, PA25,55389-11%
Melrose Park, IL25,5141044%
Burlington, IA25,55981-19%
Vernon Hills, IL25,53512626%
Source: The Vernon Hills, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.