Cost of Living in Elwood, IL

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3%
Overall NAT. AVG.
1%
Groceries NAT. AVG.
8%
Housing NAT. AVG.
Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index Elwood Illinois National
Cost of living9798100
Groceries99100100
Health care97100100
Housing9295100
Transportation100101100
Utilities10199100
Lifestyle & Entertainment99100100
Household Items98100100
Education & Childcare106100100
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Homes For Sale In Elwood, IL

property for sale

24908 S Hemphill Dr

Elwood, IL
property for sale

17249 W Rob Ave

Elwood, IL
property for sale

804 Deerpath Ln

Elwood, IL
property for sale

21433 S Wooded Cove Dr

Elwood, IL

Cost Of Living Quick Facts

  • The cost of living in Elwood is 1% lower than the Illinois average
  • The cost of living in Elwood is 3% lower than the national average
  • Elwood housing is 8% lower than the national average
  • Illinois general sales tax is 22% higher than the national average
  • Illinois state income tax is 91% higher than the national average

Most Affordable Places to Live in and Around Elwood

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Compare Elwood, IL Cost of Living

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      Health care index
      Housing index
      Transportation index
      Utilities index
      Lifestyle index
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      Educare index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$127,067$10,589$2,965$3,812
      Renters$91,026$7,586$2,124$2,731

      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%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Wilmington village, IL1507921.3%
      Godley, IL717909.8%
      Preston Heights, IL2,583927.8%
      Ingalls Park, IL3,100927.6%
      Fairmont, IL2,777946.0%
      Elwood, IL2,603972.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Seneca, IL2,603982.2%
      Trenton, NS2,603n/a 
      Pima, AZ2,602946.3%
      Waretown, NJ2,60213838.2%
      Nicoma Park, OK2,6028812.0%
      Elwood, IL2,603972.5%
      Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
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