Cost of Living in Hoffman estates, IL
Housing
The housing market plays a significant role in determining the cost of living in Hoffman estates, IL.
- Housing Index: 110.5 / 100
- Median Home Price is: $390,000
- Average Rent (2 BR Apartment): $1800 per month
- Average Rent (2 BR House): $1900 per month
When considering a move to Hoffman estates, IL, it's essential to note the housing index of 110.5. With a median home price of 390000 and average rents of 1800 for an apartment and 1900 for a house, it indicates a more competitive market. With ongoing trends of rising home values, investing in property here could be beneficial. It's advisable to balance your budget against these costs while factoring in local amenities, employment opportunities, and lifestyle preferences in order to make an informed decision.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Hoffman estates, IL.
- Electricity Price: $16.15 USD (median by state)
- Natural Gas Price: $16.59 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Hoffman estates, IL could entail higher utility costs. Electricity costs sit at $16.15, while natural gas is priced at $16.59 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Hoffman estates is a financially viable option for your relocation.