Lincoln, IL Cost Of Living
Cost Of Living In Lincoln, IL Summary
Cost of living in Lincoln 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 Lincoln 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 Lincoln is 88, with 100 being the average.
The cost of living index in Lincoln is 0.9x lower than the national average.
Lincoln ranks as the #82 cheapest in Illinois out of 338.
Lincoln ranks as the #1,278 cheapest out of 6,412 in the US.
The median home value in Lincoln is $97,400.
The median income in Lincoln is $51,915.
Table Of Contents
Lincoln's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Lincoln, IL?
According to the most recent data on the cost of living, Lincoln has an overall cost of living index of 88, which is 0.9x lower than the national index of 100.
Compared to Illinois, Lincoln has a cost of living index that's 1.0x lower than Illinois's index of 92.
The standard of living in Lincoln ranks as #82 most affordable out of the 338 places we measured in Illinois. By definition, that implies Lincoln ranks as the #256 most expensive place in the Prairie State.
For more reading on life in Lincoln, check out:
- Living In Lincoln
- Lincoln Crime Report
- Search Homes For Sale In Lincoln, IL
In Illinois
In America
Lincoln Cost Of Living Vs. Illinois
Six factors go into calculating the cost of living index in Lincoln. Here is how it fairs on each of the criteria:
The Services index in Lincoln is 104.
The Groceries index in Lincoln is 93.
The Health index in Lincoln is 105.
The Housing index in Lincoln is 54.
The Transportation index in Lincoln is 103.
The Utilities index in Lincoln is 89.
| Living Expense | Lincoln | Illinois | National Average | |
|---|---|---|---|---|
| Overall | 88 | 92 | 100 | |
| Services | 104 | 95 | 100 | |
| Groceries | 93 | 98 | 100 | |
| Health | 105 | 96 | 100 | |
| Housing | 54 | 81 | 100 | |
| Transportation | 103 | 105 | 100 | |
| Utilities | 89 | 90 | 100 | |
Lincoln, 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 Lincoln is $97,400.
The Median Rent in Lincoln is $721.
The Median Income in Lincoln is $51,915.
The Home Value To Income in Lincoln is 1.9x.
The Rent To Monthly Income in Lincoln is 0.17x.
| Statistic | Lincoln | Illinois | United States |
|---|---|---|---|
| Median Home Value | $97,400 | $212,600 | $244,900 |
| Median Rent | $721 | $1,097 | $1,163 |
| Median Income | $51,915 | $72,563 | $69,021 |
| Home Value To Income | 1.9x | 2.9x | 3.5x |
| Rent To Monthly Income | 0.17x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Lincoln, IL Costs By Category
Detailed Lincoln Services Costs Vs. Illinois
Detailed Lincoln Groceries Costs Vs. Illinois
Detailed Lincoln Health Costs Vs. Illinois
Detailed Lincoln Transportation Costs Vs. Illinois
Detailed Lincoln Utilities Costs Vs. Illinois
Lincoln SnackAbility
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Cost Of Living In Cities Around Lincoln
The cost of living varies in the cities and towns around Lincoln. Here's a quick look at the cost of living in the most populous nearby places:
Springfield, IL has a cost of living index of 93, 1.1x Lincoln.
Bloomington, IL has a cost of living index of 94, 1.1x Lincoln.
Normal, IL has a cost of living index of 95, 1.1x Lincoln.
| City | Population | Cost Of Living | Vs. Lincoln |
|---|---|---|---|
| Springfield, IL | 114,672 | 93 | 1.1x |
| Bloomington, IL | 78,372 | 94 | 1.1x |
| Normal, IL | 53,446 | 95 | 1.1x |
| East Peoria, IL | 22,707 | 87 | 1.0x |
| Morton, IL | 16,591 | 97 | 1.1x |
| Washington, IL | 16,008 | 95 | 1.1x |
| Chatham, IL | 14,245 | 102 | 1.2x |
| Middletown, KY | 9,473 | 103 | 1.2x |
| Monticello, IL | 6,202 | 94 | 1.1x |
| Mount Zion, IL | 6,092 | 87 | 1.0x |
