Cost of Living in Channel Lake, IL

B+
3%
Overall NAT. AVG.
2%
Goods & Services NAT. AVG.
6%
Housing NAT. AVG.
Search Homes for Sale
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 Channel Lake Illinois National
Cost of living10396100
Goods & Services9997100
Groceries10398100
Health care11195100
Housing10695100
Transportation99103100
Utilities10589100
New Real Estate Listings in Channel Lake Area
Search
Search Homes for Sale in Channel Lake, IL
See How Much House You Can Afford. Get Pre-Approved Today

Cost Of Living Quick Facts

  • The cost of living in Channel Lake is 7% higher than the Illinois average
  • The cost of living in Channel Lake is 3% higher than the national average
  • Channel Lake housing is 6% higher than 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 Channel Lake

See all the best places to live around Channel Lake

Compare Channel Lake, IL Cost of Living

      vs
      How would you rate the cost of living in Channel Lake?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Channel Lake?
      Write a review to give others more information about this area.
      See all Channel Lake poll results

      The best places in Illinois

      Here are the best places to live in IllinoisThese are the largest cities in IllinoisCheck out the 10 safest cities in IllinoisCheck out the 10 most dangerous cities in Illinois

      Salary Calculator

      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

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$61,019$5,085$1,424$1,831
      Renters$37,857$3,155$883$1,136

      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 Channel Lake National avg. Difference
      Haircut $20.21$24.2616.7%
      Beauty Salon $33.25$45.5627.0%
      Toothpaste $3.66$3.701.1%
      Shampoo $1.07$1.2816.6%
      Movie $10.26$12.1315.5%
      Bowling $10.03$18.0044.3%

      Groceries

      Item Channel Lake National avg. Difference
      Ground Beef $6.05$5.843.5%
      Fried Chicken $1.46$1.577.3%
      Milk $4.55$4.672.7%
      Potatoes $4.10$4.9317.0%
      Pizza $11.33$12.096.3%
      Beer $8.52$10.4118.2%

      Health Care

      Item Channel Lake National avg. Difference
      Optometrist $278.65$125.68121.7%
      Doctor $223.73$135.7864.8%
      Dentist $106.79$113.295.7%
      Ibuprofen $10.29$10.653.4%
      Lipitor $469.65$468.600.2%

      Housing

      Item Channel Lake National avg. Difference
      Home Price $171,700.00$184,700.007.0%
      Avg. Mortgage Payment $1,879.64$2,346.6919.9%
      Apartment Rent $1,308.00$949.0037.8%

      Transportation

      Item Channel Lake National avg. Difference
      Gasoline $3.30$3.464.5%
      Tire Balancing $44.14$59.9226.3%

      Utilities

      Item Channel Lake National avg. Difference
      All Electricity $182.69$193.995.8%
      Phone $185.79$192.253.4%
      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 Population Cost of Living Index National Avg.
      Park City, IL7,6368415.8%
      Lake Ivanhoe, WI398955.5%
      North Chicago, IL29,967973.2%
      Round Lake Park, IL7,744972.8%
      Waukegan, IL87,157982.1%
      Channel Lake, IL1,7841032.6%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Leilani Estates, HI1,78414040.4%
      Fredericksburg, PA1,7841021.7%
      Saint-Placide, QC1,784n/a 
      Musqueam 2, BC1,784n/a 
      Heritage Pines, FL1,783954.6%
      Channel Lake, IL1,7841032.6%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
      General
      For Professionals
      Follow Us
      AV on Twitter AV on Facebook
      © AreaVibes Inc. 2010-2024