A+
17%
Overall NAT. AVG.
18%
Goods & Services NAT. AVG.
28%
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 Effingham Illinois National
Cost of living8396100
Goods & Services8297100
Groceries9698100
Health care8395100
Housing7295100
Transportation94103100
Utilities9089100

An Overview of Cost of Living in Effingham, IL

Understanding the cost of living in Effingham 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 Effingham cost of living index is 83, which is 17% 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.

Everyday basics like clothes, personal care items and entertainment factor into your overall living costs. But here's the good news: in Effingham, these things are 18.3% more affordable than the national average. So, you can get what you need and have fun without emptying your wallet. With these savings, you can stash more money in your savings or put it towards other financial goals, ultimately improving your financial health.

Is Effingham Affordable?

Is Effingham an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Effingham is 26.2% lower than the national average, while the average monthly rent prices are 33.6% lower than average. The affordability of any location can also be influenced by median income levels. Effingham has a median household income of $52,551, which is 5% lower than the national average.

What Factors can Influence the Cost of Living in Effingham?

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Effingham, the transportation index is 6% lower than the national average.

Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.

Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.

Where is the Data From?

The Effingham cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates 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 Effingham is 14% lower than the Illinois average
  • The cost of living in Effingham is 17% lower than the national average
  • Effingham housing is 28% 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 Effingham

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Compare Effingham, 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$62,813$5,234$1,466$1,885
      Renters$33,409$2,784$779$1,002
      To approximate the cost of living and the housing affordability in Effingham, 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 Effingham have a median income of $62,813. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,466 per month to avoid calamity and poverty. The renters in the city have an income of about $33,409, which would make their monthly maximum allowable rental costs $779.

      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 Effingham National avg. Difference
      Haircut $35.50$24.2646.3%
      Beauty Salon $44.28$45.562.8%
      Toothpaste $3.85$3.704.1%
      Shampoo $1.22$1.284.6%
      Movie $14.03$12.1315.7%
      Bowling $15.58$18.0013.4%

      Groceries

      Item Effingham National avg. Difference
      Ground Beef $5.86$5.840.4%
      Fried Chicken $1.38$1.5712.0%
      Milk $4.69$4.670.3%
      Potatoes $5.11$4.933.6%
      Pizza $13.74$12.0913.7%
      Beer $10.08$10.413.2%

      Health Care

      Item Effingham National avg. Difference
      Optometrist $117.14$125.686.8%
      Doctor $149.89$135.7810.4%
      Dentist $110.00$113.292.9%
      Ibuprofen $10.40$10.652.4%
      Lipitor $384.07$468.6018.0%

      Housing

      Item Effingham National avg. Difference
      Home Price $136,300.00$184,700.0026.2%
      Avg. Mortgage Payment $1,861.33$2,346.6920.7%
      Apartment Rent $630.00$949.0033.6%

      Transportation

      Item Effingham National avg. Difference
      Gasoline $4.03$3.4616.3%
      Tire Balancing $64.10$59.927.0%

      Utilities

      Item Effingham National avg. Difference
      All Electricity $126.60$193.9934.7%
      Phone $198.23$192.253.1%
      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.
      Wheeler, IL1788119.3%
      Mason, IL2437326.9%
      Beecher City, IL3737425.9%
      Edgewood, IL4707425.9%
      Watson, IL7957525.4%
      Effingham, IL12,3108317.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Ottawa, KS12,3088613.8%
      Gladstone, OR12,31612827.7%
      Cambridge, MD12,300990.8%
      Saddlebrooke, AZ12,32713333.2%
      Speedway, IN12,327928.4%
      Effingham, IL12,3108317.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.