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: $346000
• 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 Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 110.3

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $95509

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Lombard, IL, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.