| Index | Sterling | Illinois | National |
| Cost of living | 85 | 98 | 100 |
| Groceries | 97 | 100 | 100 |
| Health care | 97 | 100 | 100 |
| Housing | 57 | 95 | 100 |
| Transportation | 97 | 101 | 100 |
| Utilities | 93 | 99 | 100 |
| Lifestyle & Entertainment | 96 | 100 | 100 |
| Household Items | 96 | 100 | 100 |
| Education & Childcare | 97 | 100 | 100 |
The cost of living in Sterling affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Sterling is 85, which is 15% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.
It's not uncommon for housing expenses to eat up a substantial portion of your income, oten exceeding 30%. The good news is that Sterling stands out by reporting housing costs that are 42.8% 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.
Is Sterling affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Sterling, for instance, where the median home price falls 50% lower than the national average, and monthly rent rates are 25.8% lower than usual. Additionally, median income levels contribute to the equation, with Sterling flaunting a median household income of $70,567, 13.2% lower than the national norm.
Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Sterling, the transportation index is 3% lower than the national average.
Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Sterling, the utilities index stands at 7.5% lower than the national average.
Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as 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 farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.
The Sterling cost of living data above is designed around a U.S. average baseline of 100, allowing for easy comparisons of relative living costs. Housing incorporates U.S. Census home price and rental data, while all other figures are AI-assisted estimates that account for regional price trends, climate, transportation dynamics, and common everyday expenses. These values are best used as directional city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $92,631 | $7,719 | $2,161 | $2,779 |
| Renters | $45,732 | $3,811 | $1,067 | $1,372 |
| State | General Sales Tax | With Max Surtax |
| Illinois | 6.25% | 10.25% |
| State | Income Tax (Low) | Income Tax (High) |
| Illinois | 4.95% | 4.95% |
| City | Population | Cost of Living Index | National Avg. |
| Deer Grove, IL | 34 | 77 | 23.0% |
| Harmon, IL | 150 | 84 | 16.0% |
| Rock Falls, IL | 9,152 | 82 | 18.2% |
| Milledgeville, IL | 1,014 | 83 | 17.0% |
| Nelson, IL | 138 | 83 | 16.8% |
| Sterling, IL | 15,351 | 85 | 15.5% |
| City | Population | Cost of Living Index | National Avg. |
| Jackson, MO | 15,346 | 97 | 3.0% |
| Leduc County, AB | 15,344 | n/a | |
| Hershey, PA | 15,338 | 108 | 7.8% |
| Gloversville, NY | 15,335 | 94 | 6.3% |
| Sainte-Anne-des-Plaines, QC | 15,334 | n/a | |
| Sterling, IL | 15,351 | 85 | 15.5% |
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