C-
8%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
17%
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 Wheeling Illinois National
Cost of living10896100
Goods & Services10797100
Groceries10498100
Health care10895100
Housing11795100
Transportation107103100
Utilities8989100

An Overview of Cost of Living in Wheeling, IL

Knowing the cost of living in Wheeling allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Wheeling stands at 108, marking it 8% higher than the national average.

The cost of living in Wheeling 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. Wheeling 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 Wheeling Affordable?

Is Wheeling an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Wheeling, the median home price is 9.4% higher than what most folks pay across the country, and monthly rent prices are 33.8% higher than the usual rates. Income levels in Wheeling come in at $71,966, which is 30.1% higher than the national average.

What Factors can Influence the Cost of Living in Wheeling?

Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable cost of living.

Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Wheeling, healthcare costs are 7.7% higher than the national average.

Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Wheeling, the utilities index stands at 10.8% lower than the national average.

Where is the Data From?

The Wheeling cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors 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 Wheeling is 12% higher than the Illinois average
  • The cost of living in Wheeling is 8% higher than the national average
  • Wheeling housing is 17% 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 Wheeling

See all the best places to live around Wheeling

Compare Wheeling, 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$79,343$6,612$1,851$2,381
      Renters$65,479$5,457$1,528$1,965
      A good way to judge both the affordability of the housing and the cost of living in Wheeling 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. Wheeling has a median income of about $79,343 for people who own homes. Based on that number, a maximum of $1,851 should be spent on expenses related to housing. Renters have a slightly different median income, which is $65,479. Based on this average, renters should spend no more than $1,528 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 Wheeling 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 Wheeling 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 Wheeling 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 Wheeling National avg. Difference
      Home Price $202,000.00$184,700.009.4%
      Avg. Mortgage Payment $2,578.06$2,346.699.9%
      Apartment Rent $1,270.00$949.0033.8%

      Transportation

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

      Utilities

      Item Wheeling 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.
      North Chicago, IL29,967973.2%
      Northlake, IL12,2351033.5%
      Hainesville, IL3,5951054.9%
      Franklin Park, IL17,7791065.7%
      River Grove, IL9,9571066.1%
      Wheeling, IL38,6841087.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Wausau, WI38,6858415.7%
      Mission Bend, TX38,6931021.6%
      Hot Springs, AR38,6978910.7%
      Clovis, NM38,7019010.3%
      Pacifica, CA38,663219118.5%
      Wheeling, IL38,6841087.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.