Iola, Illinois Cost Of Living

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Overall 26%

Goods & Services 6%

Housing 69%

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	Iola	Illinois	National
Cost of living	74	97	100
Goods & Services	94	96	100
Groceries	95	97	100
Health care	83	98	100
Housing	31	95	100
Transportation	89	104	100
Utilities	98	96	100

Key findings

The cost of living in Iola is 23% lower than the Illinois average
The cost of living in Iola is 26% lower than the national average
Iola housing is 69% lower than the national average
Illinois general sales tax is 23% higher than the national average
Illinois state income tax is 101% 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	$37,250	$3,104	$869	$1,118
Renters	$0	$0	$0	$0

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	Iola	National avg.	Difference
Haircut	$14.67	$20.27	27.6%
Beauty Salon	$40.00	$40.39	1.0%
Toothpaste	$2.03	$2.36	13.8%
Shampoo	$1.04	$1.08	3.4%
Movie	$11.46	$10.99	4.3%
Bowling	$20.00	$15.49	29.1%

Groceries

Item	Iola	National avg.	Difference
Ground Beef	$4.43	$4.30	3.1%
Fried Chicken	$1.42	$1.40	1.2%
Milk	$1.99	$2.20	9.7%
Potatoes	$3.09	$3.22	4.0%
Pizza	$9.80	$10.74	8.8%
Beer	$9.32	$9.60	2.9%

Health Care

Item	Iola	National avg.	Difference
Optometrist	$79.00	$109.73	28.0%
Doctor	$87.50	$118.34	26.1%
Dentist	$79.42	$100.94	21.3%
Ibuprofen	$9.35	$9.93	5.9%
Lipitor	$463.66	$469.53	1.2%

Housing

Item	Iola	National avg.	Difference
Home Price	$37,800.00	$184,700.00	79.5%
Avg. Mortgage Payment	$820.45	$1,229.62	33.3%
Apartment Rent	$517.00	$949.00	45.5%

Transportation

Item	Iola	National avg.	Difference
Gasoline	$2.44	$2.71	10.1%
Tire Balancing	$45.55	$51.86	12.2%

Utilities

Item	Iola	National avg.	Difference
All Electricity	$164.97	$170.84	3.4%
Phone	$185.19	$187.18	1.1%

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.
Sailor Springs, IL	99	76	23.6%
St. Peter, IL	388	76	24.3%
Xenia, IL	475	79	21.4%
St. Elmo, IL	1,298	77	23.4%
Farina, IL	647	77	23.1%
Iola, IL	148	74	25.5%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
St. Joe, AR	148	71	28.7%
Elgin, AZ	148	134	34.4%
Alpine Village, CA	148	116	16.1%
Honcut, CA	148	106	5.9%
Gold Hill, CO	148	129	28.6%
Iola, IL	148	74	25.5%

Source: This data reflects 2021 and was released from C2ER in January, 2022; this is the most current data available.