| Index | Urbana | Illinois | National |
| Cost of living | 95 | 98 | 100 |
| Groceries | 99 | 100 | 100 |
| Health care | 98 | 100 | 100 |
| Housing | 85 | 95 | 100 |
| Transportation | 99 | 101 | 100 |
| Utilities | 97 | 99 | 100 |
| Lifestyle & Entertainment | 100 | 100 | 100 |
| Household Items | 102 | 100 | 100 |
| Education & Childcare | 101 | 100 | 100 |
Knowing the cost of living in Urbana allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Urbana stands at 95, marking it 5% lower than the national average.
The cost of living in Urbana is about average when compared to all other cities across the nation. You can expect that everyday items like food, household expenses and utility bills will be no more expensive than any other average city. Residents can anticipate living expenses that remain in line with the national average, ensuring a manageable financial burden, making it an attractive choice for those seeking affordability without the constraints of higher everyday expenditures.
Is Urbana affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Urbana, the median home price is 15.2% lower than the national average and monthly rent prices are 13% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Urbana boasting a median household income of $53,590, 34.1% lower than the national average.
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.
Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Urbana, healthcare costs are 1.8% lower than the national average.
Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Urbana comes in at 2.6% lower than the national average.
The Urbana cost of living data displayed above uses a U.S. average baseline of 100 to provide a practical way to compare living expenses across cities. Housing estimates incorporate U.S. Census home price and rental data, while all other values are generated using AI-assisted models based on everyday expense expectations, regional pricing trends, climate, transportation patterns, and local economic conditions. These values are designed for 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 | $125,322 | $10,444 | $2,924 | $3,760 |
| Renters | $34,500 | $2,875 | $805 | $1,035 |
| 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. |
| Allerton, IL | 274 | 85 | 14.6% |
| Ivesdale, IL | 255 | 86 | 13.8% |
| Penfield, IL | 243 | 86 | 13.7% |
| Thomasboro, IL | 1,071 | 87 | 13.2% |
| Rantoul, IL | 13,263 | 87 | 12.7% |
| Urbana, IL | 43,747 | 95 | 4.8% |
| City | Population | Cost of Living Index | National Avg. |
| Hicksville, NY | 43,793 | 154 | 54.0% |
| North Fort Myers, FL | 43,810 | 92 | 7.5% |
| Jefferson City, MO | 43,647 | 91 | 8.6% |
| Schertz, TX | 43,642 | 107 | 6.9% |
| Lompoc, CA | 43,853 | 131 | 31.1% |
| Urbana, IL | 43,747 | 95 | 4.8% |
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