Addison, IL Cost Of Living
Cost Of Living In Addison, IL Summary
Cost of living in Addison research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Addison is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Illinois, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Addison is 111, with 100 being the average.
The cost of living index in Addison is 1.1x higher than the national average.
Addison ranks as the #249 cheapest in Illinois out of 338.
Addison ranks as the #4,219 cheapest out of 6,412 in the US.
The median home value in Addison is $271,500.
The median income in Addison is $75,960.
Table Of Contents
Addison's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Addison, IL?
According to the most recent data on the cost of living, Addison has an overall cost of living index of 111, which is 1.1x higher than the national index of 100.
Compared to Illinois, Addison has a cost of living index that's 1.2x higher than Illinois's index of 92.
The standard of living in Addison ranks as #249 most affordable out of the 338 places we measured in Illinois. By definition, that implies Addison ranks as the #89 most expensive place in the Prairie State.
For more reading on life in Addison, check out:
- Living In Addison
- Addison Crime Report
- Search Homes For Sale In Addison, IL
In Illinois
In America
Addison Cost Of Living Vs. Illinois
Six factors go into calculating the cost of living index in Addison. Here is how it fairs on each of the criteria:
The Services index in Addison is 114.
The Groceries index in Addison is 108.
The Health index in Addison is 99.
The Housing index in Addison is 115.
The Transportation index in Addison is 116.
The Utilities index in Addison is 92.
| Living Expense | Addison | Illinois | National Average | |
|---|---|---|---|---|
| Overall | 111 | 92 | 100 | |
| Services | 114 | 95 | 100 | |
| Groceries | 108 | 98 | 100 | |
| Health | 99 | 96 | 100 | |
| Housing | 115 | 81 | 100 | |
| Transportation | 116 | 105 | 100 | |
| Utilities | 92 | 90 | 100 | |
Addison, IL Housing Cost Breakdown
Housing swings affordability the most between places in Illinois, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Addison is $271,500.
The Median Rent in Addison is $1,129.
The Median Income in Addison is $75,960.
The Home Value To Income in Addison is 3.6x.
The Rent To Monthly Income in Addison is 0.18x.
| Statistic | Addison | Illinois | United States |
|---|---|---|---|
| Median Home Value | $271,500 | $212,600 | $244,900 |
| Median Rent | $1,129 | $1,097 | $1,163 |
| Median Income | $75,960 | $72,563 | $69,021 |
| Home Value To Income | 3.6x | 2.9x | 3.5x |
| Rent To Monthly Income | 0.18x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Addison, IL Costs By Category
Detailed Addison Services Costs Vs. Illinois
Detailed Addison Groceries Costs Vs. Illinois
Detailed Addison Health Costs Vs. Illinois
Detailed Addison Transportation Costs Vs. Illinois
Detailed Addison Utilities Costs Vs. Illinois
Addison SnackAbility
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Cost Of Living In Cities Around Addison
The cost of living varies in the cities and towns around Addison. Here's a quick look at the cost of living in the most populous nearby places:
Glenview, IL has a cost of living index of 147, 1.3x Addison.
Elmhurst, IL has a cost of living index of 131, 1.2x Addison.
Lombard, IL has a cost of living index of 116, 1.0x Addison.
| City | Population | Cost Of Living | Vs. Addison |
|---|---|---|---|
| Glenview, IL | 48,150 | 147 | 1.3x |
| Elmhurst, IL | 45,661 | 131 | 1.2x |
| Lombard, IL | 44,311 | 116 | 1.0x |
| Buffalo Grove, IL | 43,062 | 121 | 1.1x |
| Park Ridge, IL | 39,562 | 131 | 1.2x |
| Northbrook, IL | 35,108 | 156 | 1.4x |
| Glendale Heights, IL | 33,443 | 106 | 1.0x |
| Wilmette, IL | 27,895 | 166 | 1.5x |
| Roselle, IL | 23,000 | 113 | 1.0x |
| Villa Park, IL | 22,755 | 110 | 1.0x |
