| Index | Wheeling | Illinois | National |
| Cost of living | 104 | 98 | 100 |
| Groceries | 97 | 100 | 100 |
| Health care | 97 | 100 | 100 |
| Housing | 116 | 95 | 100 |
| Transportation | 100 | 101 | 100 |
| Utilities | 99 | 99 | 100 |
| Lifestyle & Entertainment | 98 | 100 | 100 |
| Household Items | 99 | 100 | 100 |
| Education & Childcare | 102 | 100 | 100 |
Knowing the cost of living in Wheeling 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 Wheeling stands at 104, marking it 4% higher than the national average.
In Wheeling, daily expenses such as food, housing, lifestyle expenses, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Wheeling will resemble that of an average city, contributing to a manageable cost of living.
Is Wheeling an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Wheeling, the median home price is 10% higher than what most folks pay across the country, and monthly rent prices are 30.9% higher than the usual rates. Income levels in Wheeling come in at $107,370, which is 32% higher than the national average.
Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Wheeling, the housing index is 16.3% higher than the national average.
Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Wheeling, the prevailing sales tax rate starts at 6.25%, and income tax rates kick off at 4.95%.
Urbanization: Larger, urban hubs brimming with ample amenities and robust employment opportunities often showcase a heightened cost of living. This surge is primarily attributed to the amplified demand for services and increased residential migration, culminating in elevated home prices and elevated rental rates. Conversely, less densely populated rural locales or regions characterized by reduced demand tend to offer a more limited array of amenities and undergo slower job market growth, ultimately yielding a more affordable cost of living.
The Wheeling 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 | $120,544 | $10,045 | $2,813 | $3,617 |
| Renters | $96,714 | $8,060 | $2,257 | $2,902 |
| 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. |
| North Chicago, IL | 30,865 | 95 | 5.0% |
| Northlake, IL | 12,696 | 102 | 1.7% |
| Hainesville, IL | 3,705 | 103 | 3.0% |
| River Grove, IL | 10,246 | 102 | 2.4% |
| Franklin Park, IL | 18,323 | 104 | 3.7% |
| Wheeling, IL | 39,851 | 104 | 4.0% |
| City | Population | Cost of Living Index | National Avg. |
| Evans, GA | 39,854 | 114 | 14.3% |
| Martinez, CA | 39,841 | 171 | 71.4% |
| Land O' Lakes, FL | 39,841 | 116 | 16.1% |
| Sun City, AZ | 39,873 | 102 | 1.9% |
| Issaquah, WA | 39,876 | 172 | 72.4% |
| Wheeling, IL | 39,851 | 104 | 4.0% |
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