Cost of Living in Lombard, IL
Housing
The housing market plays a significant role in determining the cost of living in Lombard, IL.
- Housing Index: 120.5 / 100
- Median Home Price is: $346,000
- Average Rent (2 BR Apartment): $1800 per month
- Average Rent (2 BR House): $2000 per month
In analyzing the housing market in Lombard, IL, the housing index stands at 120.5, suggesting that it's slightly above the national average. With a median home price of 346000, homeownership may feel a pinch for some potential buyers, especially considering the average rent for a 2-bedroom apartment at 1800 and a house at 2000. This combination indicates a competitive rental market alongside a substantial price for home buying. If you're considering relocating, it may be wise to weigh your renting versus buying options carefully in this vibrant area.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Lombard, 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 Lombard, 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 Lombard is a financially viable option for your relocation.