Cost Of Living in Elwood, IL

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	Elwood	Illinois	National
Cost of living	99	96	100
Goods & Services	106	97	100
Groceries	97	98	100
Health care	98	95	100
Housing	93	95	100
Transportation	114	103	100
Utilities	80	89	100

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Cost Of Living Quick Facts

The cost of living in Elwood is 3% higher than the Illinois average
The cost of living in Elwood is 1% lower than the national average
Elwood housing is 7% lower 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

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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	$86,397	$7,200	$2,016	$2,592
Renters	$60,093	$5,008	$1,402	$1,803

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	Elwood	National avg.	Difference
Haircut	$19.72	$24.26	18.7%
Beauty Salon	$37.22	$45.56	18.3%
Toothpaste	$3.72	$3.70	0.6%
Shampoo	$1.32	$1.28	3.3%
Movie	$9.99	$12.13	17.7%
Bowling	$16.00	$18.00	11.1%

Groceries

Item	Elwood	National avg.	Difference
Ground Beef	$5.94	$5.84	1.8%
Fried Chicken	$1.39	$1.57	11.8%
Milk	$4.55	$4.67	2.5%
Potatoes	$5.08	$4.93	3.0%
Pizza	$10.69	$12.09	11.6%
Beer	$9.61	$10.41	7.7%

Health Care

Item	Elwood	National avg.	Difference
Optometrist	$86.67	$125.68	31.0%
Doctor	$110.00	$135.78	19.0%
Dentist	$82.00	$113.29	27.6%
Ibuprofen	$10.17	$10.65	4.5%
Lipitor	$511.00	$468.60	9.0%

Housing

Item	Elwood	National avg.	Difference
Home Price	$171,200.00	$184,700.00	7.3%
Avg. Mortgage Payment	$1,316.57	$2,346.69	43.9%
Apartment Rent	$875.00	$949.00	7.8%

Transportation

Item	Elwood	National avg.	Difference
Gasoline	$3.52	$3.46	1.7%
Tire Balancing	$45.00	$59.92	24.9%

Utilities

Item	Elwood	National avg.	Difference
All Electricity	$156.87	$193.99	19.1%
Phone	$198.03	$192.25	3.0%

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.
Wilmington village, IL	144	80	20.0%
Godley, IL	691	91	8.6%
Preston Heights, IL	2,529	93	6.5%
Ingalls Park, IL	3,022	94	6.5%
Symerton, IL	72	95	5.4%
Elwood, IL	2,524	99	1.2%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Dixon Lane-Meadow Creek, CA	2,524	92	8.1%
Lakeland, NY	2,524	97	3.5%
Pima, AZ	2,523	97	3.4%
Magrath, AB	2,523	n/a
Hughesville, MD	2,525	154	54.0%
Elwood, IL	2,524	99	1.2%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Elwood, IL