| Index | Waukegan | Illinois | National |
| Cost of living | 96 | 98 | 100 |
| Groceries | 101 | 100 | 100 |
| Health care | 100 | 100 | 100 |
| Housing | 85 | 95 | 100 |
| Transportation | 101 | 101 | 100 |
| Utilities | 103 | 99 | 100 |
| Lifestyle & Entertainment | 99 | 100 | 100 |
| Household Items | 99 | 100 | 100 |
| Education & Childcare | 101 | 100 | 100 |
Getting a feel for the cost of living in Waukegan 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 Waukegan is 96, which is 4% 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.
The cost of living in Waukegan aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, household expenses, health care and utility bills are priced at a level consistent with the average in similar urban areas. Waukegan residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.
Wondering if Waukegan is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Waukegan, for example, the median home price is 23% lower than what folks pay nationally, and monthly rent is 3.5% higher than the usual rates. Plus, income levels matter too, with Waukegan boasting a median household income of $78,659, which is 3.3% lower than the national average.
Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Waukegan, the housing index is 15.1% lower than the national average.
Subsidies: Some areas might offer government subsidies or assistance programs that help lower cost of living for residents. These programs can include anything from 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 crop subsidies. Areas that offer less subsidies, could see an increase in their cost of living.
Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.
The cost of living data for Waukegan shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
| 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 | $104,698 | $8,725 | $2,443 | $3,141 |
| Renters | $61,167 | $5,097 | $1,427 | $1,835 |
| 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. |
| Park City, IL | 7,894 | 82 | 18.2% |
| North Chicago, IL | 30,865 | 95 | 5.0% |
| Round Lake Park, IL | 8,005 | 95 | 5.3% |
| Zion, IL | 24,329 | 96 | 3.7% |
| Kenosha, WI | 102,872 | 96 | 3.8% |
| Waukegan, IL | 90,063 | 96 | 4.1% |
| City | Population | Cost of Living Index | National Avg. |
| Newport Beach, CA | 90,043 | 337 | 237.4% |
| O'Fallon, MO | 90,020 | 105 | 5.1% |
| Citrus Heights, CA | 90,373 | 132 | 32.0% |
| Ogden, UT | 90,520 | 101 | 1.5% |
| Newton, MA | 90,578 | 207 | 106.6% |
| Waukegan, IL | 90,063 | 96 | 4.1% |
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