Cost Of Living in Oakwood, 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	Oakwood	Illinois	National
Cost of living	84	96	100
Goods & Services	101	97	100
Groceries	97	98	100
Health care	87	95	100
Housing	53	95	100
Transportation	97	103	100
Utilities	90	89	100

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Cost Of Living Quick Facts

The cost of living in Oakwood is 12% lower than the Illinois average
The cost of living in Oakwood is 16% lower than the national average
Oakwood housing is 47% 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	$54,286	$4,524	$1,267	$1,629
Renters	$21,250	$1,771	$496	$638

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	Oakwood	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	Oakwood	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	Oakwood	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	Oakwood	National avg.	Difference
Home Price	$91,400.00	$184,700.00	50.5%
Avg. Mortgage Payment	$1,796.65	$2,346.69	23.4%
Apartment Rent	$589.00	$949.00	37.9%

Transportation

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

Utilities

Item	Oakwood	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.
Alvan, IL	308	81	19.4%
Indianola, IL	204	81	19.1%
Henning, IL	258	81	18.6%
Sidell, IL	492	81	18.5%
Belgium, IL	383	82	18.1%
Oakwood, IL	1,514	84	15.7%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Monette, AR	1,514	79	20.9%
Sedgwick, KS	1,514	92	8.2%
Chester, NJ	1,514	140	39.8%
Bell Acres, PA	1,514	123	23.0%
Wilton, ME	1,513	93	6.8%
Oakwood, IL	1,514	84	15.7%

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 Oakwood, IL