A+
10%
Overall NAT. AVG.
9%
Goods & Services NAT. AVG.
39%
Housing NAT. AVG.
Search Homes for Sale
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 Pontiac Illinois National
Cost of living9096100
Goods & Services10997100
Groceries9998100
Health care11095100
Housing6195100
Transportation100103100
Utilities8689100

An Overview of Cost of Living in Pontiac, IL

The cost of living in Pontiac affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Pontiac is 90, which is 10% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

Is Pontiac Affordable?

Is Pontiac 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 Pontiac, for instance, where the median home price falls 48.2% lower than the national average, and monthly rent rates are 18.5% lower than usual. Additionally, median income levels contribute to the equation, with Pontiac flaunting a median household income of $49,458, 10.6% lower than the national norm.

What Factors can Influence the Cost of Living in Pontiac?

Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Pontiac, the groceries index is 1.5% 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 Pontiac, the housing index stands at 39.3% lower than the national average.

Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Pontiac comes in at 14% lower than the national average.

Where is the Data From?

The Pontiac 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. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

New Real Estate Listings in Pontiac Area
Search Homes for Sale in Pontiac, IL

Cost Of Living Quick Facts

  • The cost of living in Pontiac is 7% lower than the Illinois average
  • The cost of living in Pontiac is 10% lower than the national average
  • Pontiac housing is 39% 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 Pontiac

See all the best places to live around Pontiac

Compare Pontiac, IL Cost of Living

      vs
      How would you rate the cost of living in Pontiac?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Pontiac?
      Write a review to give others more information about this area.
      See all Pontiac poll results

      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$61,592$5,133$1,437$1,848
      Renters$31,039$2,587$724$931
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Pontiac, 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 Pontiac, homeowners have a median income of $61,592. Using that number, a maximum of $1,437 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $31,039, which means there is a maximum of $724 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 Pontiac National avg. Difference
      Haircut $30.34$24.2625.1%
      Beauty Salon $42.25$45.567.3%
      Toothpaste $3.93$3.706.0%
      Shampoo $1.22$1.284.5%
      Movie $10.08$12.1317.0%
      Bowling $17.74$18.001.4%

      Groceries

      Item Pontiac National avg. Difference
      Ground Beef $6.21$5.846.3%
      Fried Chicken $1.57$1.570.1%
      Milk $4.84$4.673.5%
      Potatoes $4.83$4.932.1%
      Pizza $13.11$12.098.5%
      Beer $9.47$10.419.0%

      Health Care

      Item Pontiac National avg. Difference
      Optometrist $242.88$125.6893.2%
      Doctor $139.32$135.782.6%
      Dentist $123.04$113.298.6%
      Ibuprofen $10.33$10.653.0%
      Lipitor $468.39$468.600.0%

      Housing

      Item Pontiac National avg. Difference
      Home Price $95,600.00$184,700.0048.2%
      Avg. Mortgage Payment $1,980.70$2,346.6915.6%
      Apartment Rent $773.00$949.0018.5%

      Transportation

      Item Pontiac National avg. Difference
      Gasoline $3.55$3.462.6%
      Tire Balancing $56.15$59.926.3%

      Utilities

      Item Pontiac National avg. Difference
      All Electricity $145.92$193.9924.8%
      Phone $198.19$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.
      Long Point, IL2508416.1%
      Forrest, IL9958812.0%
      Saunemin, IL3988317.4%
      Cornell, IL4288911.2%
      Flanagan, IL9499010.3%
      Pontiac, IL11,4309010.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Signal Hill, CA11,43015656.2%
      Urbana, OH11,4288911.3%
      Selkirk, MB11,428n/a 
      Gardnerville Ranchos, NV11,43212120.6%
      Manvel, TX11,4321088.4%
      Pontiac, IL11,4309010.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.