| Index | Lincoln | Illinois | National |
| Cost of living | 87 | 98 | 100 |
| Groceries | 98 | 100 | 100 |
| Health care | 101 | 100 | 100 |
| Housing | 58 | 95 | 100 |
| Transportation | 102 | 101 | 100 |
| Utilities | 99 | 99 | 100 |
| Lifestyle & Entertainment | 99 | 100 | 100 |
| Household Items | 99 | 100 | 100 |
| Education & Childcare | 95 | 100 | 100 |
Understanding the cost of living in Lincoln can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Lincoln cost of living index is 87, which is 13% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
It's not uncommon for housing expenses to eat up a substantial portion of your income, oten exceeding 30%. The good news is that Lincoln stands out by reporting housing costs that are 41.7% lower than the national average. This signifies that both homeownership and rental expenses in this region are considerably more affordable compared to the rest of the country. This favorable housing situation allows residents to allocate a more manageable portion of their income to housing, resulting in greater financial flexibility.
Is Lincoln an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Lincoln, the median home price is 48.5% lower than what most folks pay across the country, and monthly rent prices are 25.8% lower than the usual rates. Income levels in Lincoln come in at $71,941, which is 11.5% lower than the national average.
Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday household expenses, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Lincoln, the standard sales tax rate starts at 6.25%, and the income tax rates commence at 4.95%.
Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Lincoln, the housing index is 41.7% lower than the national average.
Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Lincoln, the utilities index is 1.5% lower than the national average.
The Lincoln cost of living data displayed above uses a U.S. average baseline of 100 to provide a practical way to compare living expenses across cities. Housing estimates incorporate U.S. Census home price and rental data, while all other values are generated using AI-assisted models based on everyday expense expectations, regional pricing trends, climate, transportation patterns, and local economic conditions. These values are designed for directional city-to-city comparisons.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $91,978 | $7,665 | $2,146 | $2,760 |
| Renters | $49,042 | $4,087 | $1,144 | $1,471 |
| 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. |
| Chestnut, IL | 39 | 98 | 2.1% |
| Cornland, IL | 73 | 99 | 1.1% |
| Beason, IL | 206 | 79 | 21.2% |
| Waynesville, IL | 514 | 83 | 17.2% |
| Middletown, IL | 216 | 83 | 17.4% |
| Lincoln, IL | 14,250 | 87 | 13.3% |
| City | Population | Cost of Living Index | National Avg. |
| Halawa, HI | 14,247 | 197 | 96.7% |
| King City, CA | 14,253 | 127 | 26.9% |
| Bexley, OH | 14,254 | 125 | 24.7% |
| Glenn Dale, MD | 14,245 | 139 | 38.6% |
| Warman, SK | 14,245 | n/a | |
| Lincoln, IL | 14,250 | 87 | 13.3% |
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