Champaign, IL Cost Of Living

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Champaign 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	Champaign	Illinois	National
Cost of living index	92	98	100
Index	Champaign	Illinois	National
Goods & Services index	89	98	100
Groceries index	91	97	100
Health care index	101	100	100
Housing index	85	95	100
Transportation index	105	112	100
Utilities index	108	97	100

An overview of the general cost of living index for Champaign, IL is displayed above for your reference. Residents in Champaign, IL enjoy a cost of living index of 92. This index is 6% lower than the Illinois average, and 8% lower than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Champaign, IL, the average cost of goods and services is 9% lower than it is in Illinois, and it is 11% lower than the national average.

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Did you know?

The cost of living in Champaign is 6% lower than the Illinois average.
The cost of living in Champaign is 8% lower than the national average.
The cost of housing in Champaign is 15% lower than the national average.
Illinois general sales tax is 23% higher than the national average.
Illinois state income tax is 123% higher than the national average.

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

Use the salary calculator to compare your current salary in Champaign, 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 Champaign, IL, then you would need to earn more income in order to maintain the same standard of living. To use the Champaign, 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 Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$75,267	$6,272	$1,756	$2,258
Renters	$25,837	$2,153	$603	$775

The affordability of the housing market in Champaign, IL as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Champaign, IL homeowners, the median income is $75,267. This indicates that a monthly maximum of $1,756 should be spent by homeowners on all housing related costs. Renters have a median income of $25,837. This indicates that renters should have a maximum of $603 used for their rent related monthly costs.

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	4.95%	4.95%

When considering the overall cost of living expenses in Champaign, 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 10.25%, 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 4.95% and goes up to 4.95%.

Goods & Services

Item	Champaign	National avg.	Difference
Haircut	$20.00	$17.49	14.4%
Beauty Salon	$44.33	$38.17	16.1%
Toothpaste	$2.16	$2.32	6.9%
Shampoo	$0.93	$1.01	8.1%
Movie	$10.00	$10.72	6.8%
Bowling	$14.33	$13.86	3.4%

Groceries

Item	Champaign	National avg.	Difference
Ground Beef	$3.60	$3.90	7.7%
Fried Chicken	$1.24	$1.40	11.2%
Milk	$1.84	$1.96	6.2%
Potatoes	$3.22	$3.18	1.2%
Pizza	$12.58	$10.39	21.0%
Beer	$8.31	$9.23	10.0%

Health Care

Item	Champaign	National avg.	Difference
Optometrist	$78.80	$106.34	25.9%
Doctor	$120.00	$115.25	4.1%
Dentist	$101.00	$98.38	2.7%
Ibuprofen	$9.76	$9.26	5.4%
Lipitor	$487.38	$466.47	4.5%

Housing

Item	Champaign	National avg.	Difference
Home Price	$152,000.00	$184,700.00	17.7%
Avg. Mortgage Payment	$979.79	$1,273.32	23.1%
Apartment Rent	$877.00	$949.00	7.6%

Transportation

Item	Champaign	National avg.	Difference
Gasoline	$2.86	$2.59	10.3%
Tire Balancing	$48.00	$48.90	1.8%

Utilities

Item	Champaign	National avg.	Difference
All Electricity	$186.40	$167.60	11.2%
Phone	$188.52	$163.42	15.4%

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.
Ivesdale, IL	251	81	-19%
Thomasboro, IL	1,122	82	-18%
Broadlands, IL	338	83	-17%
Rantoul, IL	13,238	83	-17%
White Heath, IL	246	83	-17%
Champaign, IL	84,672	92	-8%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Riverview, FL	84,590	99	-1%
Trenton, NJ	84,559	97	-3%
Alhambra, CA	84,866	150	50%
Bellingham, WA	84,462	120	20%
Ogden, UT	84,900	90	-10%
Champaign, IL	84,672	92	-8%

Source: The Champaign, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.

Champaign, IL Cost of Living