| Index | Streator | Illinois | National |
| Cost of living | 84 | 98 | 100 |
| Groceries | 99 | 100 | 100 |
| Health care | 102 | 100 | 100 |
| Housing | 49 | 95 | 100 |
| Transportation | 98 | 101 | 100 |
| Utilities | 100 | 99 | 100 |
| Lifestyle & Entertainment | 95 | 100 | 100 |
| Household Items | 100 | 100 | 100 |
| Education & Childcare | 96 | 100 | 100 |
Getting a feel for the cost of living in Streator is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Streator is 84, which is 16% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, 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 Streator stands out by reporting housing costs that are 50.7% 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 Streator an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Streator is 59% lower than the national average, while the average monthly rent prices are 31.4% lower than average. The affordability of any location can also be influenced by median income levels. Streator has a median household income of $61,177, which is 24.8% lower than the national average.
Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.
Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including 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 farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.
Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Streator, the housing index stands at 50.7% lower than the national average.
The Streator cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
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| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $85,830 | $7,153 | $2,003 | $2,575 |
| Renters | $42,630 | $3,553 | $995 | $1,279 |
| 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. |
| Dana, IL | 103 | 81 | 19.2% |
| Leonore, IL | 140 | 81 | 18.9% |
| Long Point, IL | 256 | 82 | 18.1% |
| Rutland, IL | 288 | 85 | 15.3% |
| Kangley, IL | 249 | 85 | 15.2% |
| Streator, IL | 12,592 | 84 | 16.1% |
| City | Population | Cost of Living Index | National Avg. |
| Sylacauga, AL | 12,588 | 88 | 11.7% |
| New Baltimore, MI | 12,588 | 103 | 2.7% |
| Santaquin, UT | 12,586 | 114 | 13.7% |
| Truro, NS | 12,598 | n/a | |
| White House, TN | 12,599 | 104 | 3.5% |
| Streator, IL | 12,592 | 84 | 16.1% |
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