Cost Of Living in Hoopeston, 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	Hoopeston	Illinois	National
Cost of living	81	96	100
Goods & Services	101	97	100
Groceries	97	98	100
Health care	87	95	100
Housing	42	95	100
Transportation	97	103	100
Utilities	90	89	100

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Cost Of Living Quick Facts

The cost of living in Hoopeston is 16% lower than the Illinois average
The cost of living in Hoopeston is 19% lower than the national average
Hoopeston housing is 58% 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	$42,568	$3,547	$993	$1,277
Renters	$16,263	$1,355	$379	$488

A good way to judge both the affordability of the housing and the cost of living in Hoopeston is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Hoopeston has a median income of about $42,568 for people who own homes. Based on that number, a maximum of $993 should be spent on expenses related to housing. Renters have a slightly different median income, which is $16,263. Based on this average, renters should spend no more than $379 on all rental costs if they want to maintain a non-impoverished standard of living.

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	Hoopeston	National avg.	Difference
Haircut	$21.06	$24.26	13.2%
Beauty Salon	$41.72	$45.56	8.4%
Toothpaste	$3.70	$3.70	0.1%
Shampoo	$1.27	$1.28	0.8%
Movie	$11.83	$12.13	2.5%
Bowling	$19.67	$18.00	9.3%

Groceries

Item	Hoopeston	National avg.	Difference
Ground Beef	$5.94	$5.84	1.6%
Fried Chicken	$1.41	$1.57	10.4%
Milk	$4.58	$4.67	2.0%
Potatoes	$5.07	$4.93	2.8%
Pizza	$12.37	$12.09	2.3%
Beer	$9.42	$10.41	9.6%

Health Care

Item	Hoopeston	National avg.	Difference
Optometrist	$82.61	$125.68	34.3%
Doctor	$126.67	$135.78	6.7%
Dentist	$88.75	$113.29	21.7%
Ibuprofen	$10.34	$10.65	2.9%
Lipitor	$448.14	$468.60	4.4%

Housing

Item	Hoopeston	National avg.	Difference
Home Price	$57,600.00	$184,700.00	68.8%
Avg. Mortgage Payment	$1,796.65	$2,346.69	23.4%
Apartment Rent	$646.00	$949.00	31.9%

Transportation

Item	Hoopeston	National avg.	Difference
Gasoline	$3.63	$3.46	5.0%
Tire Balancing	$47.39	$59.92	20.9%

Utilities

Item	Hoopeston	National avg.	Difference
All Electricity	$158.84	$193.99	18.1%
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.
Ambia, IN	222	76	23.5%
Rankin, IL	522	80	19.8%
Alvan, IL	308	81	19.4%
Milford, IL	1,230	79	20.8%
Wellington, IL	237	79	20.8%
Hoopeston, IL	5,178	81	19.0%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Sheldon, IA	5,178	85	14.5%
Center, TX	5,178	80	20.0%
Lucan Biddulph, ON	5,179	n/a
Swartz, LA	5,176	88	12.4%
Grosse Pointe, MI	5,176	122	22.1%
Hoopeston, IL	5,178	81	19.0%

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 Hoopeston, IL