Elwood, IL Cost of Living


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How much do I need to live in Elwood, Illinois?
$4,050 / month
for a family, 25.0% less expensive than the national average A total of $48,600 for the year for a family.
$3,767 / month
for a single person, 21.0% less expensive than the national average A total of $45,200 for the year for a single person.

Elwood cost of living score
95.2
Less expensive
4.8% lower
than the US average
1.6% higher
than the Illinois average
Elwood, Illinois gets a BestPlaces Cost of Living score of 95.2, which means the total cost of housing, food, childcare, transportation, healthcare, taxes, and other necessities is 4.8% lower than the U.S. average and 1.6% lower than the average for Illinois.

Elwood, IL

Housing costs in Elwood?
A typical home costs $253,400, which is 25.1% less expensive than the national average of $338,100 and 4.8% more expensive than the average Illinois home, at $241,700. Renting a two-bedroom unit in Elwood costs $1,300 per month, which is 9.1% cheaper than the national average of $1,430 and 3.1% more than the state average of $1,260.

Can I afford Elwood?
To live comfortably in Elwood, Illinois, a minimum annual income of $48,600 for a family, and $45,200 for a single person is recommended.

What does A.I. say about Elwood?
The cost of living in Elwood, IL is very affordable compared to many other areas in the United States. The median home cost in Elwood is $141,000, which is significantly lower than the national average of $227,025. Additionally, the median household income in Elwood at $52,700 is also much lower than the national average of $61,937. This makes it a great location for those looking for an affordable place to live on a budget. Furthermore, taxes and housing expenses are low and there are plenty of local amenities available to make life more enjoyable such as restaurants and outdoor activities.
   Cost of living score
       Higher than 100 is more expensive than the national average.
       Lower than 100 is less expensive.
     CategoriesElwoodIllinoisUnited States
    Unlock93.7100.0
  96.2  Unlock100.0
    Unlock96.9100.0
  83.0  Unlock100.0
    Unlock$241,700$338,100
  98.1  Unlock100.0
    Unlock106.2100.0
  133.7  Unlock100.0

   100=National Average

   Average Rent by Bedroom Size
Crime
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