Cost of Living in Savoy, IL

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A-
5%
Overall NAT. AVG.
2%
Groceries NAT. AVG.
16%
Housing NAT. AVG.
Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index Savoy Illinois National
Cost of living10598100
Groceries98100100
Health care98100100
Housing11695100
Transportation103101100
Utilities9999100
Lifestyle & Entertainment99100100
Household Items102100100
Education & Childcare102100100
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Homes For Sale In Savoy, IL

property for sale

800 Lavender Dr

Savoy, IL
property for sale

205 Independence Dr

Savoy, IL
property for sale

103 Yorkminster Ln #2

Savoy, IL
property for sale

103 Yorkminster Ln #8

Savoy, IL

Cost Of Living Quick Facts

  • The cost of living in Savoy is 7% higher than the Illinois average
  • The cost of living in Savoy is 5% higher than the national average
  • Savoy housing is 16% higher 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 Savoy

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Compare Savoy, IL Cost of Living

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      Health care index
      Housing index
      Transportation index
      Utilities index
      Lifestyle index
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      Educare index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$170,747$14,229$3,984$5,123
      Renters$60,658$5,055$1,415$1,820
      To approximate the cost of living and the housing affordability in Savoy, IL, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Savoy have a median income of $170,747. Therefore, the amount that a consumer should spend on housing costs should be no more than $3,984 per month to avoid calamity and poverty. The renters in the city have an income of about $60,658, which would make their monthly maximum allowable rental costs $1,415.

      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%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Longview, IL1017623.7%
      White Heath, IL1598515.2%
      Ivesdale, IL2558613.8%
      Villa Grove, IL2,3898613.7%
      Thomasboro, IL1,0718713.2%
      Savoy, IL9,1101055.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Whitestown, IN9,1091076.6%
      Burton, SC9,109937.2%
      Riverside, CT9,108276176.3%
      Covington, TN9,1138811.8%
      Franklin, KY9,1148911.0%
      Savoy, IL9,1101055.0%
      Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
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