Cost of Living in Bartlett, IL

An Overview of Cost of Living in Bartlett, IL

The cost of living in Bartlett affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Bartlett is 121, which is 21% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

The cost of living in Bartlett is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Bartlett falls into this category, which may not be suitable for those seeking an economically favorable living environment.

Housing costs make up a big chunk of the cost of living in Bartlett, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 62.3% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

Is Bartlett Affordable?

Is Bartlett affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Bartlett, the median home price is 55% higher than the national average and monthly rent prices are 79.3% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Bartlett boasting a median household income of $109,980, 98.8% higher than the national average.

What Factors can Influence the Cost of Living in Bartlett?

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 Bartlett, the groceries index is 3.5% higher than the national average.

Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum 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 farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Bartlett, the utilities index registers 10.8% lower than the national average.

Where is the Data From?

The Bartlett cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.