Lincoln 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.
Cost of living index8699100
Goods & Services index105101100
Groceries index9597100
Health care index104101100
Housing index5495100
Transportation index102105100
Utilities index8996100
Here we can see a simple outline of the cost of living in Lincoln, IL. As you can see, with the average cost of living in Lincoln, IL being 86, that puts it 13% lower than the average of Illinois and 14% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Lincoln, IL, the price of goods and services are 4% higher than the average of Illinois as well as 5% higher than the nation's average.

Did you know?

  • The cost of living in Lincoln is 13% lower than the Illinois average.
  • The cost of living in Lincoln is 14% lower than the national average.
  • The cost of housing in Lincoln is 46% lower than the national average.
  • Illinois general sales tax is 23% higher than the national average.
  • Illinois state income tax is 69% higher than the national average.

Find Real Estate Listings In Lincoln


New Real Estate Listings In Lincoln

Compare Lincoln, IL Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is meant to help you compare your salary in Lincoln, IL to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Lincoln, IL, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Lincoln, IL salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
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 Lincoln, 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. Lincoln, IL has a median income of about $55,646 for people who own homes. Based on that number, a person should spend a maximum of $1,298 on expenses related to housing. Renters have a slightly different median income, which is $31,812. Based on this average, renters should spend no more than $742 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

Illinois Income Tax

StateIncome Tax (Low)Income Tax (High)
The Illinois sales tax and Illinois income tax rates should definitely be considered when determining the overall cost of living in Lincoln, IL. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Illinois sales tax is 6.25% and the maximum surtax is 10.25%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Illinois income tax rates range from 3.75% to 3.75%.

Goods & Services

ItemLincolnNational avg.Difference
Haircut $10.71$16.0933.4%
Beauty Salon $32.39$37.3313.2%
Toothpaste $2.21$2.459.7%
Shampoo $0.89$1.0011.4%
Movie $11.99$10.2816.6%
Bowling $6.40$4.9329.7%


ItemLincolnNational avg.Difference
Ground Beef $3.69$3.803.0%
Fried Chicken $1.40$1.400.5%
Milk $1.72$2.0114.5%
Potatoes $2.86$3.015.0%
Pizza $12.73$9.8928.7%
Beer $8.22$8.907.6%

Health Care

ItemLincolnNational avg.Difference
Optometrist $74.00$102.1627.6%
Doctor $133.89$108.3623.6%
Dentist $89.33$92.533.5%
Ibuprofen $9.21$9.280.7%
Lipitor $431.02$425.821.2%


ItemLincolnNational avg.Difference
Home Price $86,100.00$184,700.0053.4%
Avg. Mortgage Payment $998.55$1,202.4417.0%
Apartment Rent $676.00$949.0028.8%


ItemLincolnNational avg.Difference
Gasoline $2.25$2.240.2%
Tire Balancing $48.87$46.295.6%


ItemLincolnNational avg.Difference
All Electricity$159.87$165.963.7%
Phone $23.34$28.6818.6%
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.
Beason, IL7075-25%
Cornland, IL7081-19%
Broadwell, IL15281-19%
Middletown, IL32382-18%
Waynesville, IL46379-21%
Lincoln, IL14,25386-14%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Red Hill, SC14,25197-3%
Swampscott, MA14,25015151%
Moorestown-Lenola, NJ14,25613333%
Carthage, MO14,24782-18%
Highland Park, NJ14,24513030%
Lincoln, IL14,25386-14%
Source: The Lincoln, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.