B+
2%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
16%
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 Waukegan Illinois National
Cost of living9896100
Goods & Services10797100
Groceries10498100
Health care10895100
Housing8495100
Transportation107103100
Utilities8989100

An Overview of Cost of Living in Waukegan, IL

Getting a feel for the cost of living in Waukegan is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Waukegan is 98, which is 2% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

The cost of living in Waukegan aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. Waukegan residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.

Is Waukegan Affordable?

Wondering if Waukegan is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Waukegan, for example, the median home price is 24% lower than what folks pay nationally, and monthly rent is 2.8% higher than the usual rates. Plus, income levels matter too, with Waukegan boasting a median household income of $53,778, which is 2.8% lower than the national average.

What Factors can Influence the Cost of Living in Waukegan?

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 Waukegan, the healthcare costs are 7.7% higher than the national average.

Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.

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 Waukegan, the groceries index is 3.5% higher than the national average.

Where is the Data From?

The Waukegan 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 Waukegan Area
Search Homes for Sale in Waukegan, IL

Cost Of Living Quick Facts

  • The cost of living in Waukegan is 2% higher than the Illinois average
  • The cost of living in Waukegan is 2% lower than the national average
  • Waukegan housing is 16% 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 Waukegan

See all the best places to live around Waukegan

Compare Waukegan, IL Cost of Living

      vs
      How would you rate the cost of living in Waukegan?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Waukegan?
      Write a review to give others more information about this area.
      See all Waukegan 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$71,446$5,954$1,667$2,144
      Renters$40,287$3,357$940$1,209
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Waukegan, IL, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Waukegan homeowners, is $71,446. This would allow for a maximum of $1,667 per month to be spent on housing costs. For renters, the median monthly income is $40,287 which would result in a maximum of $940 to be spent on rental costs.

      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 Waukegan National avg. Difference
      Haircut $33.69$24.2638.9%
      Beauty Salon $53.44$45.5617.3%
      Toothpaste $3.75$3.701.4%
      Shampoo $1.27$1.281.1%
      Movie $17.91$12.1347.6%
      Bowling $24.58$18.0036.6%

      Groceries

      Item Waukegan National avg. Difference
      Ground Beef $5.28$5.849.5%
      Fried Chicken $1.42$1.579.7%
      Milk $4.87$4.674.3%
      Potatoes $4.90$4.930.7%
      Pizza $13.41$12.0910.9%
      Beer $10.00$10.414.0%

      Health Care

      Item Waukegan National avg. Difference
      Optometrist $118.27$125.685.9%
      Doctor $167.67$135.7823.5%
      Dentist $128.22$113.2913.2%
      Ibuprofen $10.97$10.652.9%
      Lipitor $382.34$468.6018.4%

      Housing

      Item Waukegan National avg. Difference
      Home Price $140,300.00$184,700.0024.0%
      Avg. Mortgage Payment $2,578.06$2,346.699.9%
      Apartment Rent $976.00$949.002.8%

      Transportation

      Item Waukegan National avg. Difference
      Gasoline $3.56$3.462.7%
      Tire Balancing $70.87$59.9218.3%

      Utilities

      Item Waukegan National avg. Difference
      All Electricity $148.58$193.9923.4%
      Phone $210.03$192.259.3%
      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.
      Park City, IL7,6368415.8%
      North Chicago, IL29,967973.2%
      Round Lake Park, IL7,744972.8%
      Zion, IL23,677973.4%
      Camp Lake, WI4,175972.5%
      Waukegan, IL87,157982.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Ogden, UT87,1751000.1%
      St. George, UT87,17611616.1%
      Newport Beach, CA86,694325225.0%
      Repentigny, QC87,645n/a 
      Citrus Heights, CA87,66512828.2%
      Waukegan, IL87,157982.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.