Wonder Lake 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.
IndexWonder LakeIllinoisNational
Cost of living index10099100
IndexWonder LakeIllinoisNational
Goods & Services index9698100
Groceries index9699100
Health care index103101100
Housing index10799100
Transportation index9997100
Utilities index95101100
Here we can see a simple outline of the cost of living in Wonder Lake, IL. As you can see, with the average cost of living in Wonder Lake, IL being 100, that puts it 1% higher than the average of Illinois and equal to 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 Wonder Lake, IL, the price of goods and services are 2% lower than the average of Illinois as well as 4% lower than the nation's average.

Did you know?

  • The cost of living in Wonder Lake is 1% higher than the Illinois average.
  • The cost of living in Wonder Lake is equal to the national average.
  • The cost of housing in Wonder Lake is 7% 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 Wonder Lake, IL Cost of living To Other Cities

Salary Calculator

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Groceries index
Health care index
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Transportation index
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Use the salary calculator to compare your current salary in Wonder Lake, IL to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Wonder Lake, IL, then you would need to earn more income in order to maintain the same standard of living. To use the Wonder Lake, IL salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$82,375$6,865$1,922$2,471
Renters$31,458$2,622$734$944
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Wonder Lake, 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 Wonder Lake, IL homeowners have a median income of $82,375. Using that number, you will come up with a maximum of $1,922 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $31,458, which means there is a maximum of $734 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 considering the overall cost of living expenses in Wonder Lake, 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

ItemWonder LakeNational avg.Difference
Haircut $12.57$14.5913.9%
Beauty Salon $29.57$34.6814.7%
Toothpaste $1.88$2.4724.0%
Shampoo $1.00$1.022.2%
Movie $10.29$9.874.3%
Bowling $3.94$4.3910.3%

Groceries

ItemWonder LakeNational avg.Difference
Ground Beef $4.91$4.489.7%
Fried Chicken $1.51$1.463.1%
Milk $2.42$2.362.7%
Potatoes $2.19$3.0628.5%
Pizza $8.00$9.2413.4%
Beer $8.37$8.633.0%

Health Care

ItemWonder LakeNational avg.Difference
Optometrist $74.14$99.7825.7%
Doctor $112.33$105.036.9%
Dentist $89.63$88.701.0%
Ibuprofen $9.99$9.416.1%
Lipitor $319.94$298.507.2%

Housing

ItemWonder LakeNational avg.Difference
Home Price $156,100.00$175,700.0011.2%
Avg. Mortgage Payment $777.29$1,081.0328.1%
Apartment Rent $1,375.00$920.0049.5%

Transportation

ItemWonder LakeNational avg.Difference
Gasoline $1.96$2.096.5%
Tire Balancing $51.06$45.2912.8%

Utilities

ItemWonder LakeNational avg.Difference
All Electricity$176.07$170.803.1%
Phone $23.50$28.2616.8%
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.
Lake Ivanhoe, WI51294-6%
Hebron, IL1,09494-6%
Harvard, IL9,82992-8%
Round Lake Beach, IL28,048100-0%
McCullom Lake, IL1,00193-7%
Wonder Lake, IL3,769100-0%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Pixley, CA3,76996-4%
North Muskegon, MI3,76990-10%
Northern Cambria, PA3,76985-15%
Lafayette, OR3,77011010%
Polk City, IA3,77097-3%
Wonder Lake, IL3,769100-0%
Source: The Wonder Lake, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.