An Overview of Cost of Living in Glen Carbon, IL
Are you thinking about relocating, but curious about the potential cost of living in Glen Carbon? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Glen Carbon stands at 101, making it 1% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
Everyday expenditures like food, housing, goods and services, transportation and health care in Glen Carbon are priced in a manner consistent with other areas. This means that residents of Glen Carbon can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.
Is Glen Carbon Affordable?
Wondering if Glen Carbon is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Glen Carbon, for example, the median home price is 23.9% higher than what folks pay nationally, and monthly rent is 3.4% higher than the usual rates. Plus, income levels matter too, with Glen Carbon boasting a median household income of $84,956, which is 53.6% higher than the national average.
What Factors can Influence the Cost of Living in Glen Carbon?
Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Glen Carbon, healthcare costs are 11.3% lower than the national average.
Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Glen Carbon, the groceries index is 3.1% lower than the national average.
Subsidies: Some areas might offer government subsidies or assistance programs that help lower cost of living for residents. These programs can include anything from 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 crop subsidies. Areas that offer less subsidies, could see an increase in their cost of living.
Where is the Data From?
The cost of living data in Glen Carbon displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.
Here are the best places to live in Illinois
These are the 10 most affordable cities in Illinois
Check out the 10 safest cities in Illinois
Top 10 cities in Illinois with the best education system