| Index | Geneva | Illinois | National |
| Cost of living | 125 | 98 | 100 |
| Groceries | 102 | 100 | 100 |
| Health care | 102 | 100 | 100 |
| Housing | 185 | 95 | 100 |
| Transportation | 98 | 101 | 100 |
| Utilities | 97 | 99 | 100 |
| Lifestyle & Entertainment | 98 | 100 | 100 |
| Household Items | 100 | 100 | 100 |
| Education & Childcare | 96 | 100 | 100 |
Knowing the cost of living in Geneva 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 Geneva stands at 125, marking it 25% higher than the national average.
If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Geneva is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Geneva falls into this category, which may not align with your goal of finding a budget-friendly living environment.
When it comes to the cost of living in Geneva, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 85% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
Locals have the inside scoop on their city. So, we polled 7 residents in Geneva to learn how they view the cost of living. We asked how they felt about the cost of living in their area, and if they thought that prices were increasing, decreasing or staying the same. The verdict? 43% find it reasonable with decreasing prices, but 57% think it's quite pricey, with prices that continue to rise.
Is Geneva 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 Geneva is 92.3% higher than the national average, while the average monthly rent prices are 67.9% higher than average. The affordability of any location can also be influenced by median income levels. Geneva has a median household income of $174,660, which is 114.7% higher than the national average.
Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.
Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Geneva, the healthcare costs are 1.6% higher than the national average.
Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In Geneva, the utilities index registers at 3.5% lower than the national average.
The cost of living data for Geneva shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
| 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 | $197,438 | $16,453 | $4,607 | $5,924 |
| Renters | $100,374 | $8,365 | $2,342 | $3,012 |
| 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. |
| Plano, IL | 11,422 | 102 | 2.2% |
| Elgin, IL | 115,336 | 104 | 4.3% |
| Aurora, IL | 206,020 | 105 | 5.0% |
| Burlington, IL | 528 | 105 | 5.0% |
| Boulder Hill, IL | 9,282 | 104 | 4.4% |
| Geneva, IL | 22,487 | 125 | 24.9% |
| City | Population | Cost of Living Index | National Avg. |
| Port Hueneme, CA | 22,490 | 148 | 48.3% |
| Pascagoula, MS | 22,492 | 88 | 12.5% |
| Raymore, MO | 22,494 | 105 | 4.9% |
| Naples, FL | 22,474 | 202 | 102.3% |
| White Rock, BC | 22,468 | n/a | |
| Geneva, IL | 22,487 | 125 | 24.9% |
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