Third Lake, Illinois Cost Of Living

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F

Overall 25%

Goods & Services 13%

Housing 64%

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Third Lake	Illinois	National
Cost of living	125	97	100
Goods & Services	113	96	100
Groceries	104	97	100
Health care	98	98	100
Housing	164	95	100
Transportation	119	104	100
Utilities	91	96	100

Key findings

The cost of living in Third Lake is 29% higher than the Illinois average
The cost of living in Third Lake is 25% higher than the national average
Third Lake housing is 64% higher than the national average
Illinois general sales tax is 23% higher than the national average
Illinois state income tax is 101% higher than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$112,273	$9,356	$2,620	$3,369
Renters	$98,750	$8,229	$2,304	$2,963

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%

Goods & Services

Item	Third Lake	National avg.	Difference
Haircut	$34.95	$20.27	72.4%
Beauty Salon	$59.38	$40.39	47.0%
Toothpaste	$2.43	$2.36	2.9%
Shampoo	$1.06	$1.08	1.7%
Movie	$14.42	$10.99	31.3%
Bowling	$20.01	$15.49	29.2%

Groceries

Item	Third Lake	National avg.	Difference
Ground Beef	$5.23	$4.30	21.7%
Fried Chicken	$1.85	$1.40	31.9%
Milk	$2.26	$2.20	2.6%
Potatoes	$2.75	$3.22	14.7%
Pizza	$13.02	$10.74	21.2%
Beer	$9.67	$9.60	0.8%

Health Care

Item	Third Lake	National avg.	Difference
Optometrist	$97.30	$109.73	11.3%
Doctor	$105.52	$118.34	10.8%
Dentist	$102.17	$100.94	1.2%
Ibuprofen	$9.99	$9.93	0.6%
Lipitor	$494.12	$469.53	5.2%

Housing

Item	Third Lake	National avg.	Difference
Home Price	$251,900.00	$184,700.00	36.4%
Avg. Mortgage Payment	$1,777.54	$1,229.62	44.6%
Apartment Rent	$2,176.00	$949.00	129.3%

Transportation

Item	Third Lake	National avg.	Difference
Gasoline	$3.39	$2.71	24.9%
Tire Balancing	$57.48	$51.86	10.8%

Utilities

Item	Third Lake	National avg.	Difference
All Electricity	$129.38	$170.84	24.3%
Phone	$206.73	$187.18	10.4%

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.

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Park City, IL	7,402	87	13.5%
Waukegan, IL	88,159	98	2.2%
Zion, IL	24,195	89	10.6%
North Chicago, IL	30,023	99	1.4%
McCullom Lake, IL	1,011	94	6.0%
Third Lake, IL	1,266	125	25.1%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Tidmore Bend, AL	1,266	80	19.5%
Johnson City, KS	1,266	83	16.9%
Burgin, KY	1,266	85	14.8%
Edina, MO	1,266	78	22.3%
Rosenhayn, NJ	1,266	100	0.0%
Third Lake, IL	1,266	125	25.1%

Source: This data reflects 2021 and was released from C2ER in January, 2022; this is the most current data available.