Cost of Living in Tower Lakes, IL

F
48%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
149%
Housing NAT. AVG.
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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 Tower Lakes Illinois National
Cost of living14896100
Goods & Services10797100
Groceries10498100
Health care10895100
Housing24995100
Transportation107103100
Utilities8989100
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Cost Of Living Quick Facts

  • The cost of living in Tower Lakes is 53% higher than the Illinois average
  • The cost of living in Tower Lakes is 48% higher than the national average
  • Tower Lakes housing is 149% 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 Tower Lakes

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Compare Tower Lakes, IL Cost of Living

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      Price difference in compared to
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      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$146,250$12,188$3,412$4,388
      Renters$120,750$10,063$2,817$3,623

      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 Tower Lakes National avg. Difference
      Haircut $33.69$24.2638.9%
      Beauty Salon $53.44$45.5617.3%
      Toothpaste $3.75$3.701.4%
      Shampoo $1.27$1.281.1%
      Movie $17.91$12.1347.6%
      Bowling $24.58$18.0036.6%

      Groceries

      Item Tower Lakes National avg. Difference
      Ground Beef $5.28$5.849.5%
      Fried Chicken $1.42$1.579.7%
      Milk $4.87$4.674.3%
      Potatoes $4.90$4.930.7%
      Pizza $13.41$12.0910.9%
      Beer $10.00$10.414.0%

      Health Care

      Item Tower Lakes National avg. Difference
      Optometrist $118.27$125.685.9%
      Doctor $167.67$135.7823.5%
      Dentist $128.22$113.2913.2%
      Ibuprofen $10.97$10.652.9%
      Lipitor $382.34$468.6018.4%

      Housing

      Item Tower Lakes National avg. Difference
      Home Price $470,400.00$184,700.00154.7%
      Avg. Mortgage Payment $2,578.06$2,346.699.9%
      Apartment Rent $2,250.00$949.00137.1%

      Transportation

      Item Tower Lakes National avg. Difference
      Gasoline $3.56$3.462.7%
      Tire Balancing $70.87$59.9218.3%

      Utilities

      Item Tower Lakes National avg. Difference
      All Electricity $148.58$193.9923.4%
      Phone $210.03$192.259.3%
      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%
      Round Lake Park, IL7,744972.8%
      Waukegan, IL87,157982.1%
      McCullom Lake, IL1,193937.1%
      Wonder Lake, IL3,955946.3%
      Tower Lakes, IL1,29314847.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Brookdale, CA1,29316261.9%
      Wiscasset, ME1,2931021.9%
      Sea Bright, NJ1,29317877.9%
      Eatons Neck, NY1,293203102.8%
      Pilot Rock, OR1,293909.9%
      Tower Lakes, IL1,29314847.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
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