| Index | Wood River | Illinois | National |
| Cost of living | 85 | 98 | 100 |
| Groceries | 99 | 100 | 100 |
| Health care | 93 | 100 | 100 |
| Housing | 58 | 95 | 100 |
| Transportation | 97 | 101 | 100 |
| Utilities | 96 | 99 | 100 |
| Lifestyle & Entertainment | 94 | 100 | 100 |
| Household Items | 97 | 100 | 100 |
| Education & Childcare | 96 | 100 | 100 |
Are you thinking about relocating, but curious about the potential cost of living in Wood River? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Wood River stands at 85, making it 15% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
Housing expenses often consume a significant portion of your net income, occasionally surpassing 30%. Fortunately, housing costs in Wood River are 42.4% below the national average. This highlights the region's exceptional affordability for both homeownership and rentals in comparison to the rest of the country. This favorable housing situation allows residents to allocate a more reasonable fraction of their income to housing, resulting in enhanced financial flexibility and improved overall financial well-being.
Is Wood River affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Wood River, for instance, where the median home price falls 53.2% lower than the national average, and monthly rent rates are 17.1% lower than usual. Additionally, median income levels contribute to the equation, with Wood River flaunting a median household income of $75,638, 7% lower than the national norm.
Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety of support mechanisms, 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. Areas that provide fewer subsidies may see an uptick 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 Wood River, the housing index stands at 42.4% lower than the national average.
Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Wood River, the groceries index is 1.5% lower than the national average.
The Wood River 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.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $91,014 | $7,585 | $2,124 | $2,731 |
| Renters | $48,760 | $4,063 | $1,138 | $1,463 |
| 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. |
| Brooklyn, IL | 445 | 74 | 26.2% |
| Kinloch, MO | 344 | 79 | 20.8% |
| Madison, IL | 3,040 | 79 | 21.2% |
| Venice, IL | 2,096 | 79 | 20.8% |
| Wellston, MO | 1,958 | 81 | 18.8% |
| Wood River, IL | 10,358 | 85 | 15.4% |
| City | Population | Cost of Living Index | National Avg. |
| Red Bank, SC | 10,356 | 92 | 7.8% |
| Elkhorn, WI | 10,351 | 98 | 1.7% |
| Plymouth, IN | 10,366 | 85 | 15.3% |
| Española, NM | 10,349 | 93 | 7.2% |
| Lancaster, NY | 10,349 | 100 | 0.2% |
| Wood River, IL | 10,358 | 85 | 15.4% |
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