| Index | Markham | Illinois | National |
| Cost of living | 94 | 98 | 100 |
| Groceries | 102 | 100 | 100 |
| Health care | 100 | 100 | 100 |
| Housing | 79 | 95 | 100 |
| Transportation | 105 | 101 | 100 |
| Utilities | 102 | 99 | 100 |
| Lifestyle & Entertainment | 102 | 100 | 100 |
| Household Items | 98 | 100 | 100 |
| Education & Childcare | 94 | 100 | 100 |
The cost of living in Markham 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 Markham is 94, which is 6% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.
In Markham, daily expenses such as food, housing, lifestyle expenses, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Markham will resemble that of an average city, contributing to a manageable cost of living.
Is Markham an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Markham, the median home price is 48% lower than what most folks pay across the country, and monthly rent prices are 42.1% higher than the usual rates. Income levels in Markham come in at $62,378, which is 23.3% lower than the national average.
Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Markham, the housing index stands at 21% lower than the national average.
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 Markham, the groceries index is 2.2% higher than the national average.
Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Markham, the general sales tax rate starts at 6.25%, and income tax rates begin at 4.95%.
The cost of living estimates displayed for Markham are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $79,165 | $6,597 | $1,847 | $2,375 |
| Renters | $46,098 | $3,842 | $1,076 | $1,383 |
| State | General Sales Tax | With Max Surtax |
| Illinois | 6.25% | 10.25% |
| State | Income Tax (Low) | Income Tax (High) |
| Illinois | 4.95% | 4.95% |
| City | Population | Cost of Living Index | National Avg. |
| Hodgkins, IL | 1,817 | 83 | 16.9% |
| Ford Heights, IL | 2,801 | 83 | 16.6% |
| East Chicago, IN | 28,835 | 82 | 17.8% |
| Phoenix, IL | 1,450 | 85 | 14.6% |
| Dixmoor, IL | 3,663 | 87 | 12.6% |
| Markham, IL | 12,759 | 94 | 5.7% |
| City | Population | Cost of Living Index | National Avg. |
| Fairfax Station, VA | 12,757 | 171 | 71.4% |
| Centralia, IL | 12,756 | 84 | 16.2% |
| Lakeland Village, CA | 12,752 | 132 | 32.5% |
| Grenada, MS | 12,751 | 85 | 15.1% |
| Amos, QC | 12,770 | n/a | |
| Markham, IL | 12,759 | 94 | 5.7% |
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