Cost Of Living in Milan, IL

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	Milan	Illinois	National
Cost of living	90	96	100
Goods & Services	101	97	100
Groceries	97	98	100
Health care	94	95	100
Housing	69	95	100
Transportation	104	103	100
Utilities	86	89	100

New Real Estate Listings in Milan Area

For Sale For Rent

Search

Search Homes for Sale in Milan, IL

See How Much House You Can Afford. Get Pre-Approved Today

Cost Of Living Quick Facts

The cost of living in Milan is 7% lower than the Illinois average
The cost of living in Milan is 10% lower than the national average
Milan housing is 31% 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 Milan

See all the best places to live around Milan

Compare Milan, IL Cost of Living

Write a review to give others more information about this area.

See all Milan poll results

The best places in Illinois

Here are the best places to live in Illinois

Safest Cities In The US

Safest States In The US

See the best places to live in Milan

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	$82,880	$6,907	$1,934	$2,487
Renters	$29,226	$2,436	$682	$877

The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Milan, IL, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Milan, homeowners have a median income of $82,880. Using that number, a maximum of $1,934 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $29,226, which means there is a maximum of $682 to be spent on the costs of renting a home or apartment.

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	Milan	National avg.	Difference
Haircut	$27.83	$24.26	14.7%
Beauty Salon	$46.89	$45.56	2.9%
Toothpaste	$3.82	$3.70	3.1%
Shampoo	$1.30	$1.28	1.5%
Movie	$11.85	$12.13	2.4%
Bowling	$18.50	$18.00	2.8%

Groceries

Item	Milan	National avg.	Difference
Ground Beef	$5.67	$5.84	2.9%
Fried Chicken	$1.35	$1.57	14.2%
Milk	$4.63	$4.67	0.8%
Potatoes	$4.73	$4.93	4.1%
Pizza	$11.49	$12.09	4.9%
Beer	$9.86	$10.41	5.3%

Health Care

Item	Milan	National avg.	Difference
Optometrist	$134.20	$125.68	6.8%
Doctor	$140.02	$135.78	3.1%
Dentist	$93.33	$113.29	17.6%
Ibuprofen	$10.72	$10.65	0.6%
Lipitor	$454.61	$468.60	3.0%

Housing

Item	Milan	National avg.	Difference
Home Price	$114,600.00	$184,700.00	38.0%
Avg. Mortgage Payment	$1,900.08	$2,346.69	19.0%
Apartment Rent	$812.00	$949.00	14.4%

Transportation

Item	Milan	National avg.	Difference
Gasoline	$3.37	$3.46	2.5%
Tire Balancing	$72.71	$59.92	21.4%

Utilities

Item	Milan	National avg.	Difference
All Electricity	$153.70	$193.99	20.8%
Phone	$186.06	$192.25	3.2%

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.
Rock Island Arsenal, IL	353	98	1.6%
Oak Grove, IL	427	78	22.2%
Matherville, IL	869	86	14.3%
Panorama Park, IA	212	87	13.0%
Carbon Cliff, IL	1,937	88	12.4%
Milan, IL	5,001	90	10.4%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Annville, PA	5,001	98	2.3%
Post, TX	5,002	81	19.2%
Paulden, AZ	5,003	107	6.5%
Metchosin, BC	4,998	n/a
Richland Center, WI	4,997	92	8.2%
Milan, IL	5,001	90	10.4%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Milan, IL