Algonquin, IL Cost Of Living
Cost Of Living In Algonquin, IL Summary
Cost of living in Algonquin research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Algonquin is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Illinois, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Algonquin is 109, with 100 being the average.
The cost of living index in Algonquin is 1.1x higher than the national average.
Algonquin ranks as the #236 cheapest in Illinois out of 338.
Algonquin ranks as the #4,038 cheapest out of 6,412 in the US.
The median home value in Algonquin is $273,600.
The median income in Algonquin is $115,346.
Table Of Contents
Algonquin's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Algonquin, IL?
According to the most recent data on the cost of living, Algonquin has an overall cost of living index of 109, which is 1.1x higher than the national index of 100.
Compared to Illinois, Algonquin has a cost of living index that's 1.2x higher than Illinois's index of 92.
The standard of living in Algonquin ranks as #236 most affordable out of the 338 places we measured in Illinois. By definition, that implies Algonquin ranks as the #102 most expensive place in the Prairie State.
For more reading on life in Algonquin, check out:
- Living In Algonquin
- Algonquin Crime Report
- Search Homes For Sale In Algonquin, IL
In Illinois
In America
Algonquin Cost Of Living Vs. Illinois
Six factors go into calculating the cost of living index in Algonquin. Here is how it fairs on each of the criteria:
The Services index in Algonquin is 96.
The Groceries index in Algonquin is 95.
The Health index in Algonquin is 110.
The Housing index in Algonquin is 135.
The Transportation index in Algonquin is 107.
The Utilities index in Algonquin is 87.
| Living Expense | Algonquin | Illinois | National Average | |
|---|---|---|---|---|
| Overall | 109 | 92 | 100 | |
| Services | 96 | 95 | 100 | |
| Groceries | 95 | 98 | 100 | |
| Health | 110 | 96 | 100 | |
| Housing | 135 | 81 | 100 | |
| Transportation | 107 | 105 | 100 | |
| Utilities | 87 | 90 | 100 | |
Algonquin, IL Housing Cost Breakdown
Housing swings affordability the most between places in Illinois, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Algonquin is $273,600.
The Median Rent in Algonquin is $1,725.
The Median Income in Algonquin is $115,346.
The Home Value To Income in Algonquin is 2.4x.
The Rent To Monthly Income in Algonquin is 0.18x.
| Statistic | Algonquin | Illinois | United States |
|---|---|---|---|
| Median Home Value | $273,600 | $212,600 | $244,900 |
| Median Rent | $1,725 | $1,097 | $1,163 |
| Median Income | $115,346 | $72,563 | $69,021 |
| Home Value To Income | 2.4x | 2.9x | 3.5x |
| Rent To Monthly Income | 0.18x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Algonquin, IL Costs By Category
Detailed Algonquin Services Costs Vs. Illinois
Detailed Algonquin Groceries Costs Vs. Illinois
Detailed Algonquin Health Costs Vs. Illinois
Detailed Algonquin Transportation Costs Vs. Illinois
Detailed Algonquin Utilities Costs Vs. Illinois
Algonquin SnackAbility
/10
Cost Of Living In Cities Around Algonquin
The cost of living varies in the cities and towns around Algonquin. Here's a quick look at the cost of living in the most populous nearby places:
Arlington Heights, IL has a cost of living index of 125, 1.1x Algonquin.
Palatine, IL has a cost of living index of 117, 1.1x Algonquin.
Hoffman Estates, IL has a cost of living index of 118, 1.1x Algonquin.
| City | Population | Cost Of Living | Vs. Algonquin |
|---|---|---|---|
| Arlington Heights, IL | 77,283 | 125 | 1.1x |
| Palatine, IL | 67,754 | 117 | 1.1x |
| Hoffman Estates, IL | 52,153 | 118 | 1.1x |
| Buffalo Grove, IL | 43,062 | 121 | 1.1x |
| Bartlett, IL | 41,126 | 117 | 1.1x |
| Crystal Lake, IL | 40,082 | 103 | 0.9x |
| Carpentersville, IL | 37,940 | 104 | 1.0x |
| Lake in the Hills, IL | 29,024 | 106 | 1.0x |
| Vernon Hills, IL | 26,723 | 126 | 1.2x |
| Libertyville, IL | 20,616 | 134 | 1.2x |
