Wood Dale 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.
IndexWood DaleIllinoisNational
Cost of living index11399100
IndexWood DaleIllinoisNational
Goods & Services index10698100
Groceries index10899100
Health care index100101100
Housing index12999100
Transportation index11297100
Utilities index104101100
Here we can see a simple outline of the cost of living in Wood Dale, IL. As you can see, with the average cost of living in Wood Dale, IL being 113, that puts it 14% higher than the average of Illinois and 13% 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 Wood Dale, IL, the price of goods and services are 8% higher than the average of Illinois as well as 6% higher than the nation's average.

Did you know?

  • The cost of living in Wood Dale is 14% higher than the Illinois average.
  • The cost of living in Wood Dale is 13% higher than the national average.
  • The cost of housing in Wood Dale is 29% 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 Wood Dale, IL Cost of living To Other Cities

Salary Calculator

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Health care index
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The salary calculator allows you to compare how much your current salary in Wood Dale, IL would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Wood Dale, IL, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Wood Dale, IL salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$66,108$5,509$1,542$1,983
Renters$41,600$3,467$971$1,248
One can approximate the cost of living and the housing affordability in Wood Dale, 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 Wood Dale, IL have a median income of $66,108. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,542 per month to avoid calamity and poverty. The renters in the city have an income of about $41,600, which would make their monthly maximum allowable rental costs $971.

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 Wood Dale, 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

ItemWood DaleNational 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

ItemWood DaleNational 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

ItemWood DaleNational 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

ItemWood DaleNational avg.Difference
Home Price $218,500.00$175,700.0024.4%
Avg. Mortgage Payment $1,500.61$1,081.0338.8%
Apartment Rent $1,272.00$920.0038.3%

Transportation

ItemWood DaleNational avg.Difference
Gasoline $2.29$2.099.5%
Tire Balancing $53.31$45.2917.7%

Utilities

ItemWood DaleNational 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.
Hodgkins, IL2,18588-12%
Cicero, IL84,42399-1%
Bellwood, IL19,14999-1%
Maywood, IL24,148100-0%
Bedford Park, IL6041011%
Wood Dale, IL13,88211313%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Franklin Park, PA13,88212222%
Canyon, TX13,88289-11%
Sun Lakes, AZ13,8851077%
Pierre, SD13,88592-8%
Mountain Home, ID13,87188-12%
Wood Dale, IL13,88211313%
Source: The Wood Dale, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.