Illinois's cost of living index is 94 — 6.0% below the US average of 100. Compare purchasing power and equivalent salaries across states.
CoL Index
94
US avg = 100
vs. National Avg
-6.0%
Less expensive
Median Income
$68,428
Illinois median household
Equiv. at US Avg
$72,796
Same purchasing power
| CoL Index | 94 | MIT/MERIC composite index (US avg = 100) |
| vs. National | 6.0% | Below average cost |
| Median Household Income | $68,428 | Illinois median (2023 ACS) |
| National Purchasing Power | $72,796 | Equivalent $ at US avg CoL |
| Overall Category | Moderate | Qualitative classification |
| Population | 12,812,508 | 2020 US Census |
With a cost of living index of 94, Illinois is 6% below the national average. Lower costs in Illinois mean your dollar goes further. A salary of $68,428 in Illinois provides the equivalent purchasing power of $72,796 in a state at the national average.
Housing is typically the largest driver of cost of living differences between states.Illinois's median home price of $270,000 is near the national median of approximately $310,000. Other factors include state income tax (4.95% top rate in Illinois), sales tax (6.25% state rate), and local property tax rates (2.27%).
