Geneva 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.
IndexGenevaIllinoisNational
Cost of living index11798100
IndexGenevaIllinoisNational
Goods & Services index9898100
Groceries index10097100
Health care index110100100
Housing index15695100
Transportation index117112100
Utilities index9097100
A general overview of the cost of living index for Geneva, IL is displayed above. In Geneva, IL, the overall cost of living index is 117, which is 19% higher than the Illinois average and 17% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Geneva, IL, the city's goods and services are equal to the Illinois average and 2% lower than the U.S. average.
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Did you know?

  • The cost of living in Geneva is 19% higher than the Illinois average.
  • The cost of living in Geneva is 17% higher than the national average.
  • The cost of housing in Geneva is 56% higher 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.

Compare Geneva, IL Cost of living To Other Cities

Salary Calculator

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Health care index
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Use the salary calculator to compare your current salary in Geneva, 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 Geneva, IL, then you would need to earn more income in order to maintain the same standard of living. To use the Geneva, 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 IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$113,489$9,457$2,648$3,405
Renters$40,921$3,410$955$1,228
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Geneva, IL, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Geneva, IL has a median income of about $113,489 for people who own homes. Based on that number, a person should spend a maximum of $2,648 on expenses related to housing. Renters have a slightly different median income, which is $40,921. Based on this average, renters should spend no more than $955 on all of their rental costs if they want to maintain a non-impoverished standard of living.

Illinois Sales Tax

StateGeneral Sales TaxWith Max Surtax
Illinois6.25%10.25%

Illinois Income Tax

StateIncome Tax (Low)Income Tax (High)
Illinois4.95%4.95%
When considering the overall cost of living expenses in Geneva, 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

ItemGenevaNational avg.Difference
Haircut $19.28$17.4910.2%
Beauty Salon $39.33$38.173.0%
Toothpaste $3.16$2.3236.2%
Shampoo $0.96$1.015.1%
Movie $10.54$10.721.7%
Bowling $15.50$13.8611.8%

Groceries

ItemGenevaNational avg.Difference
Ground Beef $3.96$3.901.5%
Fried Chicken $1.62$1.4016.1%
Milk $2.16$1.9610.1%
Potatoes $2.93$3.187.9%
Pizza $10.68$10.392.8%
Beer $8.26$9.2310.5%

Health Care

ItemGenevaNational avg.Difference
Optometrist $107.11$106.340.7%
Doctor $157.40$115.2536.6%
Dentist $103.57$98.385.3%
Ibuprofen $8.97$9.263.1%
Lipitor $447.13$466.474.1%

Housing

ItemGenevaNational avg.Difference
Home Price $305,000.00$184,700.0065.1%
Avg. Mortgage Payment $1,188.17$1,273.326.7%
Apartment Rent $1,263.00$949.0033.1%

Transportation

ItemGenevaNational avg.Difference
Gasoline $3.10$2.5919.7%
Tire Balancing $56.78$48.9016.1%

Utilities

ItemGenevaNational avg.Difference
All Electricity$131.81$167.6021.4%
Phone $188.88$163.4215.6%
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, StatePopulationCost of Living IndexNational Avg.
Plano, IL11,92993-7%
Pingree Grove, IL5,98396-4%
Elgin, IL111,9191044%
Boulder Hill, IL8,44999-1%
Aurora, IL200,9071000%
Geneva, IL21,73211717%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Venice, FL21,72211212%
Chillicothe, OH21,74885-15%
Farragut, TN21,69011010%
Brushy Creek, TX21,7801055%
Tumwater, WA21,68411212%
Geneva, IL21,73211717%
Source: The Geneva, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.
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