Cost of Living in Carbondale, IL

An Overview of Cost of Living in Carbondale, IL

Knowing the cost of living in Carbondale allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Carbondale stands at 86, marking it 14% lower than the national average.

What Do Locals Say About the Cost of Living in Carbondale?

The real experts on a city are its residents. That's why we reached out to 6 locals to get their views on the cost of living in Carbondale. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 17% found it budget-friendly with decreasing prices, while 83% said it's simply not affordable as prices have continued to rise.

Is Carbondale Affordable?

Is Carbondale affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Carbondale, the median home price is 33.6% lower than the national average and monthly rent prices are 26.4% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Carbondale boasting a median household income of $24,093, 56.4% lower than the national average.

What Factors can Influence the Cost of Living in Carbondale?

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Carbondale, the transportation index is 6.5% lower than the national average.

Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Carbondale, the housing index stands at 31.4% lower than the national average.

Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In Carbondale, the utilities index registers at 1.7% higher than the national average.

Where is the Data From?

The Carbondale cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.