Addison, IL Cost Of Living

Addison 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.
Index	Addison	Illinois	National
Cost of living index	112	99	100
Index	Addison	Illinois	National
Goods & Services index	115	101	100
Groceries index	108	97	100
Health care index	101	101	100
Housing index	114	95	100
Transportation index	127	105	100
Utilities index	90	96	100

Here we can see a simple outline of the cost of living in Addison, IL. As you can see, with the average cost of living in Addison, IL being 112, that puts it 13% higher than the average of Illinois and 12% 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 Addison, IL, the price of goods and services are 14% higher than the average of Illinois as well as 15% higher than the nation's average.

Did you know?

The cost of living in Addison is 13% higher than the Illinois average.
The cost of living in Addison is 12% higher than the national average.
The cost of housing in Addison is 14% 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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Salary Calculator

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

The salary calculator is meant to help you compare your salary in Addison, IL to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Addison, IL, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Addison, IL salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$73,518	$6,127	$1,715	$2,206
Renters	$33,274	$2,773	$776	$998

How much of your monthly income goes to housing can tell you whether or not you can afford housing in Addison, 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 Addison, IL homeowners have a median income of $73,518. Using that number, you will come up with a maximum of $1,715 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $33,274, which means there is a maximum of $776 to be spent on the costs of renting a home or apartment.

Illinois Sales Tax

State	General Sales Tax	With Max Surtax
Illinois	6.25%	10.25%

Illinois Income Tax

State	Income Tax (Low)	Income Tax (High)
Illinois	3.75%	3.75%

When you are determining the total cost of living in Addison, IL you will want to make sure you consider both the Illinois sales tax and the Illinois income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Illinois is 6.25%, with the highest surtax being 10.25%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Illinois have a range from 3.75% to 3.75%.

Goods & Services

Item	Addison	National avg.	Difference
Haircut	$20.00	$16.09	24.3%
Beauty Salon	$69.87	$37.33	87.2%
Toothpaste	$2.80	$2.45	14.3%
Shampoo	$0.98	$1.00	1.7%
Movie	$13.72	$10.28	33.5%
Bowling	$8.00	$4.93	62.2%

Groceries

Item	Addison	National avg.	Difference
Ground Beef	$4.33	$3.80	13.8%
Fried Chicken	$1.28	$1.40	8.1%
Milk	$1.95	$2.01	2.9%
Potatoes	$3.79	$3.01	26.0%
Pizza	$9.99	$9.89	1.1%
Beer	$8.49	$8.90	4.6%

Health Care

Item	Addison	National avg.	Difference
Optometrist	$95.00	$102.16	7.0%
Doctor	$100.00	$108.36	7.7%
Dentist	$102.33	$92.53	10.6%
Ibuprofen	$9.87	$9.28	6.4%
Lipitor	$414.41	$425.82	2.7%

Housing

Item	Addison	National avg.	Difference
Home Price	$223,600.00	$184,700.00	21.1%
Avg. Mortgage Payment	$1,785.17	$1,202.44	48.5%
Apartment Rent	$924.00	$949.00	2.6%

Transportation

Item	Addison	National avg.	Difference
Gasoline	$2.93	$2.24	30.6%
Tire Balancing	$55.00	$46.29	18.8%

Utilities

Item	Addison	National avg.	Difference
All Electricity	$130.69	$165.96	21.3%
Phone	$29.99	$28.68	4.6%

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, State	Population	Cost of Living Index	National Avg.
Hodgkins, IL	1,960	89	-11%
Hometown, IL	4,343	94	-6%
Cicero, IL	83,972	100	0%
Bellwood, IL	19,146	101	1%
Maywood, IL	24,029	102	2%
Addison, IL	37,192	112	12%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Marion, IA	37,198	92	-8%
Mechanicsville, VA	37,201	106	6%
East Meadow, NY	37,228	159	59%
Lincoln Park, MI	37,155	83	-17%
Calumet City, IL	37,112	98	-2%
Addison, IL	37,192	112	12%

Source: The Addison, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.

Addison, IL Cost of Living