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.
A general summary of the cost of living index in River Forest, IL is shown above. Compared to the state average of Illinois the cost of living index in River Forest, IL is 155, which is 56% higher than the average in Illinois and compared to the national average it is 55% higher than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In River Forest, IL goods and services come in at 14% higher than the average in Illinois and are 15% higher than compared to the nationwide average.
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Did you know?
The cost of living in River Forest is 56% higher than the Illinois average.
The cost of living in River Forest is 55% higher than the national average.
The cost of housing in River Forest is 156% higher 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.
Compare River Forest, IL Cost of living To Other Cities
This is how much you would need to earn in Price difference in compared to
Cost of living index
Goods & Services index
Health care index
Use the salary calculator to compare your current salary in River Forest, IL to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in River Forest, IL, then you would need to earn more income in order to maintain the same standard of living. To use the River Forest, IL salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.
Median Income & Debt-To-Income Ratio
Max Budget (28% DTI)
Max Budget (36% DTI)
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in River Forest, 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 River Forest, IL homeowners, is $134,167. This would allow for a maximum of $3,130 per month to be spent on housing costs. For renters, the median monthly income is $56,339 which would result in a maximum of $1,314 to be spent on rental costs.
Illinois Sales Tax
General Sales Tax
With Max Surtax
Illinois Income Tax
Income 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 River Forest, 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
Avg. Mortgage Payment
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.