Cost of Living in Sherman, IL

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B+
7%
Overall NAT. AVG.
3%
Groceries NAT. AVG.
26%
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 Sherman Illinois National
Cost of living10798100
Groceries98100100
Health care101100100
Housing12695100
Transportation102101100
Utilities9999100
Lifestyle & Entertainment99100100
Household Items99100100
Education & Childcare95100100
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Homes For Sale In Sherman, IL

property for sale

729 Nine Rock Rd

Sherman, IL
property for sale

3315 Sudduth Rd

Sherman, IL
property for sale

1601 Ascot Chase

Sherman, IL
property for sale

1237 Golf Crest CT

Sherman, IL

Cost Of Living Quick Facts

  • The cost of living in Sherman is 9% higher than the Illinois average
  • The cost of living in Sherman is 7% higher than the national average
  • Sherman housing is 26% 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 Sherman

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Compare Sherman, IL Cost of Living

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      Cost of living index
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      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$194,838$16,237$4,546$5,846
      Renters$92,903$7,742$2,168$2,787
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Sherman, 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 Sherman homeowners, is $194,838. This would allow for a maximum of $4,546 per month to be spent on housing costs. For renters, the median monthly income is $92,903 which would result in a maximum of $2,168 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%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Cornland, IL73991.1%
      Clear Lake, IL3998217.6%
      Greenview, IL9438217.6%
      Middletown, IL2168317.4%
      Curran, IL2198416.1%
      Sherman, IL4,6191077.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Ogallala, NE4,6188712.8%
      Heritage Village, CT4,6201099.2%
      Whiteville, TN4,6208415.8%
      Shelley, ID4,617973.1%
      Millis-Clicquot, MA4,61714141.0%
      Sherman, IL4,6191077.0%
      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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