A+
23%
Overall NAT. AVG.
18%
Goods & Services NAT. AVG.
48%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; 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 Mattoon Illinois National
Cost of living7796100
Goods & Services8297100
Groceries9698100
Health care8395100
Housing5295100
Transportation94103100
Utilities9089100

An Overview of Cost of Living in Mattoon, IL

Understanding the cost of living in Mattoon 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 Mattoon cost of living index is 77, which is 23% 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.

According to the latest cost of living report, Mattoon stands out as one of the most budget-friendly places to reside in the nation. In fact, only a handful of cities boast a cost of living index that is at least 20% below the national average, and Mattoon proudly belongs to that select group. This underscores the exceptional affordability of this region in comparison to other urban centers.

It's not uncommon for housing expenses to eat up a substantial portion of your income, oten exceeding 30%. The good news is that Mattoon stands out by reporting housing costs that are 48.2% 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.

Everyday essentials such as clothing, personal hygiene products and entertainment all contribute to your overall cost of living. The good news is that in Mattoon, these goods and services come in at 18.3% less than the national average. This means you can enjoy the things you need and love without breaking the bank. With such savings, you have the opportunity to allocate more funds towards your savings or other financial goals, ultimately enhancing your financial well-being.

Is Mattoon Affordable?

Is Mattoon affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Mattoon, the median home price is 54.3% lower than the national average and monthly rent prices are 33.9% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Mattoon boasting a median household income of $40,576, 26.7% lower than the national average.

What Factors can Influence the Cost of Living in Mattoon?

Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday goods and services like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Mattoon starts at 6.25% and the income tax rates start at 4.95%.

Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety of support mechanisms, including 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 farm subsidies. Areas that provide fewer subsidies may see an uptick in their overall cost of living.

Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Mattoon comes in at 10.5% lower than the national average.

Where is the Data From?

The Mattoon cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Mattoon is 20% lower than the Illinois average
  • The cost of living in Mattoon is 23% lower than the national average
  • Mattoon housing is 48% lower than the national average
  • Illinois general sales tax is 22% higher than the national average
  • Illinois state income tax is 91% higher than the national average

Most Affordable Places to Live in and Around Mattoon

See all the best places to live around Mattoon

Compare Mattoon, IL Cost of Living

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      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

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$54,446$4,537$1,270$1,634
      Renters$26,064$2,172$608$782
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Mattoon, IL, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Mattoon homeowners, is $54,446. This would allow for a maximum of $1,270 per month to be spent on housing costs. For renters, the median monthly income is $26,064 which would result in a maximum of $608 to be spent on rental costs.

      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 Mattoon National avg. Difference
      Haircut $35.50$24.2646.3%
      Beauty Salon $44.28$45.562.8%
      Toothpaste $3.85$3.704.1%
      Shampoo $1.22$1.284.6%
      Movie $14.03$12.1315.7%
      Bowling $15.58$18.0013.4%

      Groceries

      Item Mattoon National avg. Difference
      Ground Beef $5.86$5.840.4%
      Fried Chicken $1.38$1.5712.0%
      Milk $4.69$4.670.3%
      Potatoes $5.11$4.933.6%
      Pizza $13.74$12.0913.7%
      Beer $10.08$10.413.2%

      Health Care

      Item Mattoon National avg. Difference
      Optometrist $117.14$125.686.8%
      Doctor $149.89$135.7810.4%
      Dentist $110.00$113.292.9%
      Ibuprofen $10.40$10.652.4%
      Lipitor $384.07$468.6018.0%

      Housing

      Item Mattoon National avg. Difference
      Home Price $84,400.00$184,700.0054.3%
      Avg. Mortgage Payment $1,861.33$2,346.6920.7%
      Apartment Rent $627.00$949.0033.9%

      Transportation

      Item Mattoon National avg. Difference
      Gasoline $4.03$3.4616.3%
      Tire Balancing $64.10$59.927.0%

      Utilities

      Item Mattoon National avg. Difference
      All Electricity $126.60$193.9934.7%
      Phone $198.23$192.253.1%
      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.
      Hindsboro, IL4008118.5%
      Lerna, IL2517525.3%
      Allenville, IL1337525.2%
      Toledo, IL1,1638613.9%
      Neoga, IL1,5797624.2%
      Mattoon, IL17,2737723.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Colonial Heights, VA17,2831010.6%
      Lindenwold, NJ17,288973.3%
      Taylor, TX17,291946.4%
      Coalinga, CA17,25211111.2%
      Brenham, TX17,297946.5%
      Mattoon, IL17,2737723.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.