Hoffman Estates, IL Cost Of Living
Cost Of Living In Hoffman Estates, IL Summary
Cost of living in Hoffman Estates 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 Hoffman Estates 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 Hoffman Estates is 118, with 100 being the average.
The cost of living index in Hoffman Estates is 1.2x higher than the national average.
Hoffman Estates ranks as the #287 cheapest in Illinois out of 338.
Hoffman Estates ranks as the #4,687 cheapest out of 6,412 in the US.
The median home value in Hoffman Estates is $294,200.
The median income in Hoffman Estates is $96,274.
Table Of Contents
Hoffman Estates's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Hoffman Estates, IL?
According to the most recent data on the cost of living, Hoffman Estates has an overall cost of living index of 118, which is 1.2x higher than the national index of 100.
Compared to Illinois, Hoffman Estates has a cost of living index that's 1.3x higher than Illinois's index of 92.
The standard of living in Hoffman Estates ranks as #287 most affordable out of the 338 places we measured in Illinois. By definition, that implies Hoffman Estates ranks as the #51 most expensive place in the Prairie State.
For more reading on life in Hoffman Estates, check out:
- Living In Hoffman Estates
- Hoffman Estates Crime Report
- Search Homes For Sale In Hoffman Estates, IL
In Illinois
In America
Hoffman Estates Cost Of Living Vs. Illinois
Six factors go into calculating the cost of living index in Hoffman Estates. Here is how it fairs on each of the criteria:
The Services index in Hoffman Estates is 112.
The Groceries index in Hoffman Estates is 105.
The Health index in Hoffman Estates is 100.
The Housing index in Hoffman Estates is 134.
The Transportation index in Hoffman Estates is 115.
The Utilities index in Hoffman Estates is 92.
| Living Expense | Hoffman Estates | Illinois | National Average | |
|---|---|---|---|---|
| Overall | 118 | 92 | 100 | |
| Services | 112 | 95 | 100 | |
| Groceries | 105 | 98 | 100 | |
| Health | 100 | 96 | 100 | |
| Housing | 134 | 81 | 100 | |
| Transportation | 115 | 105 | 100 | |
| Utilities | 92 | 90 | 100 | |
Hoffman Estates, 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 Hoffman Estates is $294,200.
The Median Rent in Hoffman Estates is $1,490.
The Median Income in Hoffman Estates is $96,274.
The Home Value To Income in Hoffman Estates is 3.1x.
The Rent To Monthly Income in Hoffman Estates is 0.19x.
| Statistic | Hoffman Estates | Illinois | United States |
|---|---|---|---|
| Median Home Value | $294,200 | $212,600 | $244,900 |
| Median Rent | $1,490 | $1,097 | $1,163 |
| Median Income | $96,274 | $72,563 | $69,021 |
| Home Value To Income | 3.1x | 2.9x | 3.5x |
| Rent To Monthly Income | 0.19x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Hoffman Estates, IL Costs By Category
Detailed Hoffman Estates Services Costs Vs. Illinois
| Item | Hoffman Estates | Illinois |
|---|---|---|
| Shampoo | $1.06 | $1.06 |
| Movie | $14.85 | $10.68 |
| Bowling | $15.76 | $14.67 |
| Haircut | $27.76 | $18.62 |
| Beauty Salon | $65.57 | $39.05 |
Detailed Hoffman Estates Groceries Costs Vs. Illinois
| Item | Hoffman Estates | Illinois |
|---|---|---|
| Ground Beef | $4.87 | $4.22 |
| Fried Chicken | $1.99 | $1.39 |
| Milk | $2.42 | $2.05 |
| Potatoes | $3.23 | $3.29 |
| Pizza | $12.0 | $10.62 |
| Beer | $8.61 | $9.38 |
| Toothpaste | $2.46 | $2.34 |
Detailed Hoffman Estates Health Costs Vs. Illinois
| Item | Hoffman Estates | Illinois |
|---|---|---|
| Optometrist | $96.76 | $108.57 |
| Doctor | $104.96 | $116.17 |
| Dentist | $101.82 | $99.13 |
Detailed Hoffman Estates Transportation Costs Vs. Illinois
| Item | Hoffman Estates | Illinois |
|---|---|---|
| Gasoline | $2.51 | $2.22 |
| Tire Balancing | $56.85 | $50.07 |
Detailed Hoffman Estates Utilities Costs Vs. Illinois
| Item | Hoffman Estates | Illinois |
|---|---|---|
| All Electricity | $131.89 | $167.67 |
| Phone | $203.16 | $175.64 |
Hoffman Estates SnackAbility
/10
Cost Of Living In Cities Around Hoffman Estates
The cost of living varies in the cities and towns around Hoffman Estates. Here's a quick look at the cost of living in the most populous nearby places:
Schaumburg, IL has a cost of living index of 117, 1.0x Hoffman Estates.
Palatine, IL has a cost of living index of 117, 1.0x Hoffman Estates.
Glenview, IL has a cost of living index of 147, 1.2x Hoffman Estates.
| City | Population | Cost Of Living | Vs. Hoffman Estates |
|---|---|---|---|
| Schaumburg, IL | 78,053 | 117 | 1.0x |
| Palatine, IL | 67,754 | 117 | 1.0x |
| Glenview, IL | 48,150 | 147 | 1.2x |
| Elmhurst, IL | 45,661 | 131 | 1.1x |
| Buffalo Grove, IL | 43,062 | 121 | 1.0x |
| Streamwood, IL | 39,736 | 112 | 0.9x |
| Park Ridge, IL | 39,562 | 131 | 1.1x |
| Hanover Park, IL | 37,545 | 107 | 0.9x |
| Northbrook, IL | 35,108 | 156 | 1.3x |
| Highland Park, IL | 30,245 | 152 | 1.3x |
