Woodstock cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexWoodstockIllinoisNational
Cost of living index9698100
IndexWoodstockIllinoisNational
Goods & Services index9698100
Groceries index9497100
Health care index105100100
Housing index9295100
Transportation index109112100
Utilities index9097100
Here we can see a simple outline of the cost of living in Woodstock, IL. As you can see, with the average cost of living in Woodstock, IL being 96, that puts it 3% lower than the average of Illinois and 4% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Woodstock, IL, the price of goods and services are 2% lower than the average of Illinois as well as 4% lower than the nation's average.
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Did you know?

  • The cost of living in Woodstock is 3% lower than the Illinois average.
  • The cost of living in Woodstock is 4% lower than the national average.
  • The cost of housing in Woodstock is 8% lower than the national average.
  • Illinois general sales tax is 23% higher than the national average.
  • Illinois state income tax is 123% higher than the national average.

Compare Woodstock, IL Cost of living To Other Cities

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      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index
      The salary calculator is used in order to provide a comparison of your current salary in Woodstock, IL to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Woodstock, IL, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Woodstock, IL salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$76,021$6,335$1,774$2,281
      Renters$36,888$3,074$861$1,107
      The affordability of the housing market in Woodstock, IL as well as the overall cost of living can be indicated accurately 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 ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Woodstock, IL homeowners, the median income is $76,021. This indicates that a monthly maximum of $1,774 should be spent by homeowners on all housing related costs. Renters have a median income of $36,888. This indicates that renters should have a maximum of $861 used for their rent related monthly costs.

      Illinois Sales Tax

      StateGeneral Sales TaxWith Max Surtax
      Illinois6.25%10.25%

      Illinois Income Tax

      StateIncome Tax (Low)Income Tax (High)
      Illinois4.95%4.95%
      For those who live in Woodstock, IL and want to know what the true cost of living is, they ought to look at both the Illinois income tax rate and the Illinois sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Illinois, the sales tax is 6.25%, while the most you'll pay in surtax is 10.25%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Illinois, the income tax rate ranges between 4.95% to 4.95%.

      Goods & Services

      ItemWoodstockNational avg.Difference
      Haircut $16.10$17.497.9%
      Beauty Salon $32.29$38.1715.4%
      Toothpaste $1.83$2.3221.2%
      Shampoo $1.03$1.011.8%
      Movie $11.59$10.728.1%
      Bowling $12.83$13.867.4%

      Groceries

      ItemWoodstockNational avg.Difference
      Ground Beef $3.91$3.900.3%
      Fried Chicken $1.49$1.406.8%
      Milk $1.84$1.966.2%
      Potatoes $3.23$3.181.5%
      Pizza $10.49$10.390.9%
      Beer $8.01$9.2313.2%

      Health Care

      ItemWoodstockNational avg.Difference
      Optometrist $70.14$106.3434.0%
      Doctor $151.00$115.2531.0%
      Dentist $96.67$98.381.7%
      Ibuprofen $9.74$9.265.2%
      Lipitor $472.83$466.471.4%

      Housing

      ItemWoodstockNational avg.Difference
      Home Price $165,400.00$184,700.0010.4%
      Avg. Mortgage Payment $833.50$1,273.3234.5%
      Apartment Rent $943.00$949.000.6%

      Transportation

      ItemWoodstockNational avg.Difference
      Gasoline $2.94$2.5913.6%
      Tire Balancing $51.17$48.904.7%

      Utilities

      ItemWoodstockNational avg.Difference
      All Electricity$131.21$167.6021.7%
      Phone $188.52$163.4215.4%
      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, StatePopulationCost of Living IndexNational Avg.
      Garden Prairie, IL18386-14%
      Sharon, WI1,74490-10%
      Harvard, IL9,58990-10%
      Hebron, IL1,28891-9%
      Chemung, IL26291-9%
      Woodstock, IL25,23296-4%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Lincolnia, VA25,22914545%
      Wyandotte, MI25,22588-12%
      Bridgeton, NJ25,20998-2%
      Cibolo, TX25,2561000%
      Dedham, MA25,27214343%
      Woodstock, IL25,23296-4%
      Source: The Woodstock, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.