Posen 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.
IndexPosenIllinoisNational
Cost of living index9798100
IndexPosenIllinoisNational
Goods & Services index10998100
Groceries index10497100
Health care index100100100
Housing index7495100
Transportation index125112100
Utilities index9397100
A general overview of the cost of living index for Posen, IL is displayed above. In Posen, IL, the overall cost of living index is 97, which is 1% lower than the Illinois average and 3% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Posen, IL, the city's goods and services are 12% higher than the Illinois average and 9% higher than the U.S. average.
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Did you know?

  • The cost of living in Posen is 1% lower than the Illinois average.
  • The cost of living in Posen is 3% lower than the national average.
  • The cost of housing in Posen is 26% lower than the national average.
  • Illinois general sales tax is 23% higher than the national average.
  • Illinois state income tax is 123% higher than the national average.

Compare Posen, IL Cost of living To Other Cities

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      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
      Using the salary calculator lets you compare the salary you earn in Posen, IL to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Posen, IL, you have to earn a higher income in order to still have the same standard of living. To operate the Posen, IL salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$52,695$4,391$1,229$1,581
      Renters$26,053$2,171$608$782
      One can approximate the cost of living and the housing affordability in Posen, IL by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Posen, IL have a median income of $52,695. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,229 per month to avoid calamity and poverty. The renters in the city have an income of about $26,053, which would make their monthly maximum allowable rental costs $608.

      Illinois Sales Tax

      StateGeneral Sales TaxWith Max Surtax
      Illinois6.25%10.25%

      Illinois Income Tax

      StateIncome Tax (Low)Income Tax (High)
      Illinois4.95%4.95%
      For those who live in Posen, IL and want to know what the true cost of living is, they ought to look at both the Illinois income tax rate and the Illinois sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Illinois, the sales tax is 6.25%, while the most you'll pay in surtax is 10.25%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Illinois, the income tax rate ranges between 4.95% to 4.95%.

      Goods & Services

      ItemPosenNational avg.Difference
      Haircut $22.00$17.4925.8%
      Beauty Salon $69.77$38.1782.8%
      Toothpaste $2.69$2.3215.9%
      Shampoo $0.92$1.019.1%
      Movie $14.86$10.7238.6%
      Bowling $19.00$13.8637.1%

      Groceries

      ItemPosenNational avg.Difference
      Ground Beef $4.07$3.904.4%
      Fried Chicken $1.74$1.4024.7%
      Milk $2.09$1.966.5%
      Potatoes $3.74$3.1817.5%
      Pizza $10.00$10.393.8%
      Beer $8.14$9.2311.8%

      Health Care

      ItemPosenNational avg.Difference
      Optometrist $97.00$106.348.8%
      Doctor $105.00$115.258.9%
      Dentist $102.00$98.383.7%
      Ibuprofen $9.95$9.267.4%
      Lipitor $494.16$466.475.9%

      Housing

      ItemPosenNational avg.Difference
      Home Price $107,400.00$184,700.0041.9%
      Avg. Mortgage Payment $1,857.61$1,273.3245.9%
      Apartment Rent $1,055.00$949.0011.2%

      Transportation

      ItemPosenNational avg.Difference
      Gasoline $3.42$2.5931.8%
      Tire Balancing $57.00$48.9016.6%

      Utilities

      ItemPosenNational avg.Difference
      All Electricity$131.81$167.6021.4%
      Phone $200.46$163.4222.7%
      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.
      Hodgkins, IL1,96087-13%
      Dixmoor, IL3,61489-11%
      Ford Heights, IL2,77590-10%
      East Chicago, IN28,96190-10%
      Harvey, IL25,62591-9%
      Posen, IL6,25197-3%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Lovejoy, GA6,25293-7%
      Margate City, NJ6,25014040%
      South Monroe, MI6,25489-11%
      Walker, LA6,25695-5%
      Nibley, UT6,2561000%
      Posen, IL6,25197-3%
      Source: The Posen, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.