D-
15%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
39%
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 Westchester Illinois National
Cost of living11596100
Goods & Services10797100
Groceries10498100
Health care10895100
Housing13995100
Transportation107103100
Utilities8989100

An Overview of Cost of Living in Westchester, IL

The cost of living in Westchester 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 Westchester is 115, which is 15% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

Housing costs make up a big chunk of the cost of living in Westchester, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 39.4% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

Is Westchester Affordable?

Wondering if Westchester 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 Westchester, for example, the median home price is 32.6% higher than what folks pay nationally, and monthly rent is 55.3% higher than the usual rates. Plus, income levels matter too, with Westchester boasting a median household income of $88,861, which is 60.6% higher than the national average.

What Factors can Influence the Cost of Living in Westchester?

Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Westchester, the baseline sales tax rate begins at 6.25%, and income tax rates start at 4.95%.

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.

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Westchester, healthcare costs are 7.7% higher than the national average.

Where is the Data From?

The Westchester 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 Westchester is 19% higher than the Illinois average
  • The cost of living in Westchester is 15% higher than the national average
  • Westchester housing is 39% higher 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 Westchester

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Compare Westchester, IL Cost of Living

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      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$92,106$7,676$2,149$2,763
      Renters$58,125$4,844$1,356$1,744
      A good way to judge both the affordability of the housing and the cost of living in Westchester is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Westchester has a median income of about $92,106 for people who own homes. Based on that number, a maximum of $2,149 should be spent on expenses related to housing. Renters have a slightly different median income, which is $58,125. Based on this average, renters should spend no more than $1,356 on all rental costs if they want to maintain a non-impoverished standard of living.

      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 Westchester 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 Westchester 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 Westchester 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 Westchester National avg. Difference
      Home Price $244,900.00$184,700.0032.6%
      Avg. Mortgage Payment $2,578.06$2,346.699.9%
      Apartment Rent $1,474.00$949.0055.3%

      Transportation

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

      Utilities

      Item Westchester 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.
      Hodgkins, IL1,7538514.6%
      Dixmoor, IL3,5709010.2%
      Hometown, IL4,216919.0%
      Robbins, IL5,068928.5%
      Riverdale, IL12,530928.0%
      Westchester, IL16,25511514.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Southchase, FL16,25011212.2%
      Shelbyville, KY16,244991.3%
      Fort Carson, CO16,24312827.8%
      Beckley, WV16,2408812.4%
      Port Washington, NY16,23219392.5%
      Westchester, IL16,25511514.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.