Schaumburg, IL Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Schaumburg, IL Summary

Cost of living in Schaumburg 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 Schaumburg 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 Schaumburg is 117, with 100 being the average.

  • The cost of living index in Schaumburg is 1.2x higher than the national average.

  • Schaumburg ranks as the #281 cheapest in Illinois out of 338.

  • Schaumburg ranks as the #4,628 cheapest out of 6,412 in the US.

  • The median home value in Schaumburg is $272,500.

  • The median income in Schaumburg is $85,147.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
117
Schaumburg's Overall Cost Of Living
1.2x
Higher Than The National Average

What is the cost of living in Schaumburg, IL?

According to the most recent data on the cost of living, Schaumburg has an overall cost of living index of 117, which is 1.2x higher than the national index of 100.

Compared to Illinois, Schaumburg has a cost of living index that's 1.3x higher than Illinois's index of 92.

The standard of living in Schaumburg ranks as #281 most affordable out of the 338 places we measured in Illinois. By definition, that implies Schaumburg ranks as the #57 most expensive place in the Prairie State.

For more reading on life in Schaumburg, check out:

281 out of 338
In Illinois
4,628 out of 6,412
In America

Schaumburg Cost Of Living Vs. Illinois

Six factors go into calculating the cost of living index in Schaumburg. Here is how it fairs on each of the criteria:

  • The Services index in Schaumburg is 113.

  • The Groceries index in Schaumburg is 109.

  • The Health index in Schaumburg is 101.

  • The Housing index in Schaumburg is 129.

  • The Transportation index in Schaumburg is 115.

  • The Utilities index in Schaumburg is 91.

Living Expense Schaumburg Illinois National Average
Overall 117 92 100
Services 113 95 100
Groceries 109 98 100
Health 101 96 100
Housing 129 81 100
Transportation 115 105 100
Utilities 91 90 100
For more reading on cost of living around Illinois, check out:
Schaumburg Cost of Living Vs. IL

Schaumburg, 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 Schaumburg is $272,500.

  • The Median Rent in Schaumburg is $1,548.

  • The Median Income in Schaumburg is $85,147.

  • The Home Value To Income in Schaumburg is 3.2x.

  • The Rent To Monthly Income in Schaumburg is 0.22x.

Statistic Schaumburg Illinois United States
Median Home Value $272,500 $212,600 $244,900
Median Rent $1,548 $1,097 $1,163
Median Income $85,147 $72,563 $69,021
Home Value To Income 3.2x 2.9x 3.5x
Rent To Monthly Income 0.22x 0.18x 0.2x
Search Homes For Sale In Schaumburg, IL
$272,500
Median Home Value
$1,548
Median Rent
$85,147
Median Income

Schaumburg, IL Costs By Category

Detailed Schaumburg Services Costs Vs. Illinois

Item Schaumburg 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 Schaumburg Groceries Costs Vs. Illinois

Item Schaumburg 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 Schaumburg Health Costs Vs. Illinois

Item Schaumburg Illinois
Optometrist $96.76 $108.57
Doctor $104.96 $116.17
Dentist $101.82 $99.13

Detailed Schaumburg Transportation Costs Vs. Illinois

Item Schaumburg Illinois
Gasoline $2.51 $2.22
Tire Balancing $56.85 $50.07

Detailed Schaumburg Utilities Costs Vs. Illinois

Item Schaumburg Illinois
All Electricity $131.89 $167.67
Phone $203.16 $175.64

Schaumburg SnackAbility

9.5
/10
Overall SnackAbility
Jobs
8.5/10
Housing
8.5
Affordability
6
Diversity
9.5
Safety
9
Amenities
9.5
Education
9
Commute
5

Cost Of Living In Cities Around Schaumburg

The cost of living varies in the cities and towns around Schaumburg. Here's a quick look at the cost of living in the most populous nearby places:

  • Hoffman Estates, IL has a cost of living index of 118, 1.0x Schaumburg.

  • Glenview, IL has a cost of living index of 147, 1.3x Schaumburg.

  • Elmhurst, IL has a cost of living index of 131, 1.1x Schaumburg.

City Population Cost Of Living Vs. Schaumburg
Hoffman Estates, IL 52,153 118 1.0x
Glenview, IL 48,150 147 1.3x
Elmhurst, IL 45,661 131 1.1x
Buffalo Grove, IL 43,062 121 1.0x
Streamwood, IL 39,736 112 1.0x
Park Ridge, IL 39,562 131 1.1x
Hanover Park, IL 37,545 107 0.9x
Northbrook, IL 35,108 156 1.3x
Highland Park, IL 30,245 152 1.3x
Wilmette, IL 27,895 166 1.4x

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