Buffalo Grove, IL Cost Of Living

Buffalo Grove 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	Buffalo Grove	Illinois	National
Cost of living index	125	99	100
Index	Buffalo Grove	Illinois	National
Goods & Services index	115	101	100
Groceries index	108	97	100
Health care index	101	101	100
Housing index	158	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 Buffalo Grove, IL. As you can see, with the average cost of living in Buffalo Grove, IL being 125, that puts it 27% higher than the average of Illinois and 25% 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 Buffalo Grove, 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 Buffalo Grove is 27% higher than the Illinois average.
The cost of living in Buffalo Grove is 25% higher than the national average.
The cost of housing in Buffalo Grove is 58% 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 allows you to compare how much your current salary in Buffalo Grove, 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 Buffalo Grove, IL, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Buffalo Grove, 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 Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$110,703	$9,225	$2,583	$3,321
Renters	$73,234	$6,103	$1,709	$2,197

How much of your monthly income goes to housing can tell you whether or not you can afford housing in Buffalo Grove, 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 Buffalo Grove, IL homeowners have a median income of $110,703. Using that number, you will come up with a maximum of $2,583 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $73,234, which means there is a maximum of $1,709 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 Buffalo Grove, 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	Buffalo Grove	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	Buffalo Grove	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	Buffalo Grove	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	Buffalo Grove	National avg.	Difference
Home Price	$299,600.00	$184,700.00	62.2%
Avg. Mortgage Payment	$1,785.17	$1,202.44	48.5%
Apartment Rent	$1,399.00	$949.00	47.4%

Transportation

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

Utilities

Item	Buffalo Grove	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.
Park City, IL	7,402	88	-12%
Waukegan, IL	88,159	100	0%
North Chicago, IL	30,023	100	0%
Round Lake Beach, IL	27,936	103	3%
Round Lake Park, IL	7,989	103	3%
Buffalo Grove, IL	41,554	125	25%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Urbandale, IA	41,578	96	-4%
Riverton, UT	41,521	113	13%
Waipahu, HI	41,590	177	77%
Linden, NJ	41,595	119	19%
Westfield, MA	41,486	111	11%
Buffalo Grove, IL	41,554	125	25%

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

Buffalo Grove, IL Cost of Living