Hometown, Illinois Cost Of Living

A+

8%

Overall NAT. AVG.

13%

Goods & Services NAT. AVG.

47%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Hometown	Illinois	National
Cost of living	92	88	100
Goods & Services	113	96	100
Groceries	104	97	100
Health care	98	98	100
Housing	53	90	100
Transportation	119	104	100
Utilities	91	96	100

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Cost Of Living Quick Facts

The cost of living in Hometown is 4% higher than the Illinois average
The cost of living in Hometown is 8% lower than the national average
Hometown housing is 47% lower than the national average
Illinois general sales tax is 22% higher than the national average
Illinois state income tax is 119% higher than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$55,070	$4,589	$1,285	$1,652
Renters	$42,269	$3,522	$986	$1,268

The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Hometown, IL, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Hometown, homeowners have a median income of $55,070. Using that number, a maximum of $1,285 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $42,269, which means there is a maximum of $986 to be spent on the costs of renting a home or apartment.

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%

Goods & Services

Item	Hometown	National avg.	Difference
Haircut	$34.95	$20.27	72.4%
Beauty Salon	$59.38	$40.39	47.0%
Toothpaste	$2.43	$2.36	2.9%
Shampoo	$1.06	$1.08	1.7%
Movie	$14.42	$10.99	31.3%
Bowling	$20.01	$15.49	29.2%

Groceries

Item	Hometown	National avg.	Difference
Ground Beef	$5.23	$4.30	21.7%
Fried Chicken	$1.85	$1.40	31.9%
Milk	$2.26	$2.20	2.6%
Potatoes	$2.75	$3.22	14.7%
Pizza	$13.02	$10.74	21.2%
Beer	$9.67	$9.60	0.8%

Health Care

Item	Hometown	National avg.	Difference
Optometrist	$97.30	$109.73	11.3%
Doctor	$105.52	$118.34	10.8%
Dentist	$102.17	$100.94	1.2%
Ibuprofen	$9.99	$9.93	0.6%
Lipitor	$494.12	$469.53	5.2%

Housing

Item	Hometown	National avg.	Difference
Home Price	$122,800.00	$229,800.00	46.6%
Avg. Mortgage Payment	$1,777.54	$1,229.62	44.6%
Apartment Rent	$451.00	$1,096.00	58.9%

Transportation

Item	Hometown	National avg.	Difference
Gasoline	$3.39	$2.71	24.9%
Tire Balancing	$57.48	$51.86	10.8%

Utilities

Item	Hometown	National avg.	Difference
All Electricity	$129.38	$170.84	24.3%
Phone	$206.73	$187.18	10.4%

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	Population	Cost of Living Index	National Avg.
Hodgkins, IL	1,753	87	12.7%
Dixmoor, IL	3,570	89	10.9%
East Chicago, IN	28,044	91	9.5%
Harvey, IL	24,295	92	8.2%
Robbins, IL	5,068	92	8.0%
Hometown, IL	4,216	92	8.2%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Madeira Beach, FL	4,343	119	18.9%
Hurstbourne, KY	4,343	125	25.3%
Sauk Centre, MN	4,342	98	2.0%
Ringgold, GA	4,344	90	10.4%
Indian Mountain Lake, PA	4,344	103	3.3%
Hometown, IL	4,343	92	8.2%

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; this is the most current data available.