A-
5%
Overall NAT. AVG.
11%
Goods & Services NAT. AVG.
0%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; 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 Woodstock Illinois National
Cost of living9596100
Goods & Services8997100
Groceries9798100
Health care10195100
Housing10095100
Transportation110103100
Utilities8789100

An Overview of Cost of Living in Woodstock, IL

Getting a feel for the cost of living in Woodstock 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 Woodstock is 95, which is 5% 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 Woodstock closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, goods and services, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Woodstock can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.

Everyday essentials such as clothing, personal hygiene products and entertainment all contribute to your overall cost of living. The good news is that in Woodstock, these goods and services come in at 11.1% less than the national average. This means you can enjoy the things you need and love without breaking the bank. With such savings, you have the opportunity to allocate more funds towards your savings or other financial goals, ultimately enhancing your financial well-being.

Is Woodstock Affordable?

Wondering if Woodstock 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 Woodstock, for example, the median home price is 5.5% lower than what folks pay nationally, and monthly rent is 11.3% higher than the usual rates. Plus, income levels matter too, with Woodstock boasting a median household income of $69,470, which is 25.6% higher than the national average.

What Factors can Influence the Cost of Living in Woodstock?

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

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.

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 Woodstock, the housing index stands at 0.4% lower than the national average.

Where is the Data From?

The Woodstock cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Woodstock is 1% lower than the Illinois average
  • The cost of living in Woodstock is 5% lower than the national average
  • Woodstock housing is equal to the national average
  • Illinois general sales tax is 22% higher than the national average
  • Illinois state income tax is 91% higher than the national average

Most Affordable Places to Live in and Around Woodstock

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Compare Woodstock, IL Cost of Living

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      Salary Calculator

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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$91,895$7,658$2,144$2,757
      Renters$44,145$3,679$1,030$1,324
      The affordability of the housing market in Woodstock, IL as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Woodstock homeowners, the median income is $91,895. This indicates that a monthly maximum of $2,144 should be spent by homeowners on all housing related costs. Renters have a median income of $44,145. This indicates that renters would have a maximum of $1,030 for their rent related monthly costs.

      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 Woodstock National avg. Difference
      Haircut $19.94$24.2617.8%
      Beauty Salon $36.22$45.5620.5%
      Toothpaste $3.58$3.703.2%
      Shampoo $1.27$1.281.1%
      Movie $12.73$12.134.9%
      Bowling $12.67$18.0029.6%

      Groceries

      Item Woodstock National avg. Difference
      Ground Beef $5.72$5.842.0%
      Fried Chicken $1.42$1.579.9%
      Milk $4.63$4.670.9%
      Potatoes $4.82$4.932.3%
      Pizza $10.99$12.099.1%
      Beer $9.56$10.418.2%

      Health Care

      Item Woodstock National avg. Difference
      Optometrist $79.67$125.6836.6%
      Doctor $158.33$135.7816.6%
      Dentist $110.16$113.292.8%
      Ibuprofen $10.57$10.650.8%
      Lipitor $460.30$468.601.8%

      Housing

      Item Woodstock National avg. Difference
      Home Price $174,600.00$184,700.005.5%
      Avg. Mortgage Payment $1,465.09$2,346.6937.6%
      Apartment Rent $1,056.00$949.0011.3%

      Transportation

      Item Woodstock National avg. Difference
      Gasoline $3.69$3.466.7%
      Tire Balancing $70.28$59.9217.3%

      Utilities

      Item Woodstock National avg. Difference
      All Electricity $147.39$193.9924.0%
      Phone $198.03$192.253.0%
      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.
      Garden Prairie, IL2657920.6%
      Harvard, IL9,2039010.5%
      Sharon, WI1,6139010.2%
      Chemung, IL738918.9%
      Marengo, IL7,871928.1%
      Woodstock, IL25,391954.6%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Tarpon Springs, FL25,3891022.3%
      Thetford Mines, QC25,383n/a 
      Carbondale, IL25,4008613.6%
      Bay Point, CA25,37813736.8%
      Melrose Park, IL25,4041065.5%
      Woodstock, IL25,391954.6%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.