| Index | Deerfield | Illinois | National |
| Cost of living | 146 | 98 | 100 |
| Groceries | 98 | 100 | 100 |
| Health care | 99 | 100 | 100 |
| Housing | 256 | 95 | 100 |
| Transportation | 100 | 101 | 100 |
| Utilities | 102 | 99 | 100 |
| Lifestyle & Entertainment | 99 | 100 | 100 |
| Household Items | 100 | 100 | 100 |
| Education & Childcare | 96 | 100 | 100 |
Knowing the cost of living in Deerfield allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Deerfield stands at 146, marking it 46% higher than the national average.
If you prioritize affordability when seeking a new place to live, Deerfield may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Deerfield falls into this category, which may not align with your preferences for a budget-friendly living environment.
Housing costs are a very significant part of the Deerfield cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 155.9% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.
Nobody knows their city better than the people who actually live there. So, we asked 10 local residents how they would rate the cost of living in Deerfield and this is how they responded. 30% of people said that the cost of living was affordable, with prices decreasing, while 70% of people said that the cost of living was very expensive and prices continue to rise.
Is Deerfield an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Deerfield is 181.7% higher than the national average, while the average monthly rent prices are 95.7% higher than average. The affordability of any location can also be influenced by median income levels. Deerfield has a median household income of $238,400, which is 193.1% higher than the national average.
Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Deerfield, the general sales tax rate starts at 6.25%, and income tax rates begin at 4.95%.
Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Deerfield, the housing index is 155.9% higher than the national average.
Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Deerfield, the groceries index is 2% lower than the national average.
The Deerfield cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $258,563 | $21,547 | $6,033 | $7,758 |
| Renters | $126,567 | $10,547 | $2,953 | $3,797 |
| State | General Sales Tax | With Max Surtax |
| Illinois | 6.25% | 10.25% |
| State | Income Tax (Low) | Income Tax (High) |
| Illinois | 4.95% | 4.95% |
| City | Population | Cost of Living Index | National Avg. |
| Park City, IL | 7,894 | 82 | 18.2% |
| North Chicago, IL | 30,865 | 95 | 5.0% |
| Round Lake Park, IL | 8,005 | 95 | 5.3% |
| Waukegan, IL | 90,063 | 96 | 4.1% |
| Round Lake Beach, IL | 28,313 | 98 | 1.7% |
| Deerfield, IL | 19,650 | 146 | 46.1% |
| City | Population | Cost of Living Index | National Avg. |
| Haslett, MI | 19,651 | 102 | 1.5% |
| South San Jose Hills, CA | 19,654 | 142 | 42.0% |
| Shelbyville, IN | 19,667 | 87 | 13.0% |
| North Amityville, NY | 19,627 | 133 | 32.5% |
| Ronkonkoma, NY | 19,676 | 134 | 34.5% |
| Deerfield, IL | 19,650 | 146 | 46.1% |
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