Gages Lake, IL Cost Of Living
Cost Of Living In Gages Lake, IL Summary
Cost of living in Gages Lake 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 Gages Lake 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 Gages Lake is 111, with 100 being the average.
The cost of living index in Gages Lake is 1.1x higher than the national average.
Gages Lake ranks as the #249 cheapest in Illinois out of 338.
Gages Lake ranks as the #4,219 cheapest out of 6,412 in the US.
The median home value in Gages Lake is $246,200.
The median income in Gages Lake is $98,009.
Table Of Contents
Gages Lake's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Gages Lake, IL?
According to the most recent data on the cost of living, Gages Lake has an overall cost of living index of 111, which is 1.1x higher than the national index of 100.
Compared to Illinois, Gages Lake has a cost of living index that's 1.2x higher than Illinois's index of 92.
The standard of living in Gages Lake ranks as #249 most affordable out of the 338 places we measured in Illinois. By definition, that implies Gages Lake ranks as the #89 most expensive place in the Prairie State.
For more reading on life in Gages Lake, check out:
- Living In Gages Lake
- Search Homes For Sale In Gages Lake, IL
In Illinois
In America
Gages Lake Cost Of Living Vs. Illinois
Six factors go into calculating the cost of living index in Gages Lake. Here is how it fairs on each of the criteria:
The Services index in Gages Lake is 115.
The Groceries index in Gages Lake is 109.
The Health index in Gages Lake is 101.
The Housing index in Gages Lake is 116.
The Transportation index in Gages Lake is 116.
The Utilities index in Gages Lake is 94.
| Living Expense | Gages Lake | Illinois | National Average | |
|---|---|---|---|---|
| Overall | 111 | 92 | 100 | |
| Services | 115 | 95 | 100 | |
| Groceries | 109 | 98 | 100 | |
| Health | 101 | 96 | 100 | |
| Housing | 116 | 81 | 100 | |
| Transportation | 116 | 105 | 100 | |
| Utilities | 94 | 90 | 100 | |
Gages Lake, 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 Gages Lake is $246,200.
The Median Rent in Gages Lake is $1,541.
The Median Income in Gages Lake is $98,009.
The Home Value To Income in Gages Lake is 2.5x.
The Rent To Monthly Income in Gages Lake is 0.19x.
| Statistic | Gages Lake | Illinois | United States |
|---|---|---|---|
| Median Home Value | $246,200 | $212,600 | $244,900 |
| Median Rent | $1,541 | $1,097 | $1,163 |
| Median Income | $98,009 | $72,563 | $69,021 |
| Home Value To Income | 2.5x | 2.9x | 3.5x |
| Rent To Monthly Income | 0.19x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Gages Lake, IL Costs By Category
Detailed Gages Lake Services Costs Vs. Illinois
| Item | Gages Lake | Illinois |
|---|---|---|
| Shampoo | $1.06 | $1.06 |
| Movie | $14.85 | $10.68 |
| Bowling | $15.76 | $14.67 |
| Haircut | $27.76 | $18.62 |
| Beauty Salon | $65.57 | $39.05 |
Detailed Gages Lake Groceries Costs Vs. Illinois
| Item | Gages Lake | Illinois |
|---|---|---|
| Ground Beef | $4.87 | $4.22 |
| Fried Chicken | $1.99 | $1.39 |
| Milk | $2.42 | $2.05 |
| Potatoes | $3.23 | $3.29 |
| Pizza | $12.0 | $10.62 |
| Beer | $8.61 | $9.38 |
| Toothpaste | $2.46 | $2.34 |
Detailed Gages Lake Health Costs Vs. Illinois
| Item | Gages Lake | Illinois |
|---|---|---|
| Optometrist | $96.76 | $108.57 |
| Doctor | $104.96 | $116.17 |
| Dentist | $101.82 | $99.13 |
Detailed Gages Lake Transportation Costs Vs. Illinois
| Item | Gages Lake | Illinois |
|---|---|---|
| Gasoline | $2.51 | $2.22 |
| Tire Balancing | $56.85 | $50.07 |
Detailed Gages Lake Utilities Costs Vs. Illinois
| Item | Gages Lake | Illinois |
|---|---|---|
| All Electricity | $131.89 | $167.67 |
| Phone | $203.16 | $175.64 |
Gages Lake SnackAbility
/10
Cost Of Living In Cities Around Gages Lake
The cost of living varies in the cities and towns around Gages Lake. Here's a quick look at the cost of living in the most populous nearby places:
Arlington Heights, IL has a cost of living index of 125, 1.1x Gages Lake.
Buffalo Grove, IL has a cost of living index of 121, 1.1x Gages Lake.
Northbrook, IL has a cost of living index of 156, 1.4x Gages Lake.
| City | Population | Cost Of Living | Vs. Gages Lake |
|---|---|---|---|
| Arlington Heights, IL | 77,283 | 125 | 1.1x |
| Buffalo Grove, IL | 43,062 | 121 | 1.1x |
| Northbrook, IL | 35,108 | 156 | 1.4x |
| Gurnee, IL | 30,826 | 117 | 1.1x |
| Highland Park, IL | 30,245 | 152 | 1.4x |
| Grayslake, IL | 20,827 | 108 | 1.0x |
| Libertyville, IL | 20,616 | 134 | 1.2x |
| Lake Zurich, IL | 19,807 | 125 | 1.1x |
| Deerfield, IL | 19,228 | 150 | 1.4x |
| Lindenhurst, IL | 14,453 | 113 | 1.0x |
