A+
11%
Overall NAT. AVG.
9%
Goods & Services NAT. AVG.
24%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Collinsville Illinois National
Cost of living8996100
Goods & Services9297100
Groceries9798100
Health care8995100
Housing7695100
Transportation94103100
Utilities10289100

An Overview of Cost of Living in Collinsville, IL

Understanding the cost of living in Collinsville can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Collinsville cost of living index is 89, which is 11% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

Is Collinsville Affordable?

Is Collinsville affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Collinsville, for instance, where the median home price falls 30.4% lower than the national average, and monthly rent rates are 8.6% lower than usual. Additionally, median income levels contribute to the equation, with Collinsville flaunting a median household income of $56,250, 1.7% higher than the national norm.

What Factors can Influence the Cost of Living in Collinsville?

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 Collinsville, the transportation index is 6.5% lower than the national average.

Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Collinsville, the healthcare costs are 11.3% lower than the national average.

Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Collinsville, the groceries index is 3.1% lower than the national average.

Where is the Data From?

The Collinsville 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.

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Cost Of Living Quick Facts

  • The cost of living in Collinsville is 8% lower than the Illinois average
  • The cost of living in Collinsville is 11% lower than the national average
  • Collinsville housing is 24% lower than the national average
  • Illinois general sales tax is 22% higher than the national average
  • Illinois state income tax is 91% higher than the national average

Most Affordable Places to Live in and Around Collinsville

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Compare Collinsville, IL Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$73,833$6,153$1,723$2,215
      Renters$29,096$2,425$679$873
      To approximate the cost of living and the housing affordability in Collinsville, IL, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Collinsville have a median income of $73,833. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,723 per month to avoid calamity and poverty. The renters in the city have an income of about $29,096, which would make their monthly maximum allowable rental costs $679.

      Illinois Sales Tax

      State General Sales Tax With Max Surtax
      Illinois 6.25% 10.25%

      Illinois Income Tax

      State Income Tax (Low) Income Tax (High)
      Illinois 4.95% 4.95%

      Goods & Services

      Item Collinsville National avg. Difference
      Haircut $21.19$24.2612.7%
      Beauty Salon $40.57$45.5611.0%
      Toothpaste $3.75$3.701.3%
      Shampoo $1.11$1.2813.3%
      Movie $11.28$12.137.1%
      Bowling $16.92$18.006.0%

      Groceries

      Item Collinsville National avg. Difference
      Ground Beef $6.40$5.849.7%
      Fried Chicken $1.36$1.5713.3%
      Milk $4.50$4.673.7%
      Potatoes $5.28$4.936.9%
      Pizza $10.84$12.0910.3%
      Beer $9.47$10.419.1%

      Health Care

      Item Collinsville National avg. Difference
      Optometrist $125.72$125.680.0%
      Doctor $124.51$135.788.3%
      Dentist $100.78$113.2911.0%
      Ibuprofen $10.14$10.654.8%
      Lipitor $520.16$468.6011.0%

      Housing

      Item Collinsville National avg. Difference
      Home Price $128,500.00$184,700.0030.4%
      Avg. Mortgage Payment $1,737.43$2,346.6926.0%
      Apartment Rent $867.00$949.008.6%

      Transportation

      Item Collinsville National avg. Difference
      Gasoline $3.20$3.467.6%
      Tire Balancing $50.00$59.9216.6%

      Utilities

      Item Collinsville National avg. Difference
      All Electricity $133.84$193.9931.0%
      Phone $188.69$192.251.9%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Rentchler, IL4945.9%
      Brooklyn, IL4287327.0%
      East St. Louis, IL26,3597723.4%
      East Carondelet, IL3177723.2%
      Alorton, IL2,0777723.2%
      Collinsville, IL24,4898911.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Watauga, TX24,4871054.5%
      Key West, FL24,49516968.8%
      Brookings, SD24,479937.3%
      Ottumwa, IA24,5058515.3%
      Fort Washington, MD24,46814040.2%
      Collinsville, IL24,4898911.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.