Homewood, IL, offers a cost of living that is slightly below the nationwide average. The overall cost of living index for Homewood stands at 93, which is 7% lower than the national average of 100. This includes aspects such as housing, groceries, utilities, transportation, healthcare, and miscellaneous expenses, all of which contribute to this relatively lower cost of living.
Homewood, IL, offers a cost of living that is generally below the nationwide average. Specifically, the housing index stands at 85, meaning it costs 15% less than the national average to rent or buy a home. This makes Homewood an attractive option for those looking to reduce housing expenses. Additionally, groceries in Homewood cost 95% of the national average, reflecting a slight discount on food prices.
Utilities in Homewood are priced at 98% of the nationwide average, indicating minimal variation. Transportation costs in Homewood are also nearly on par with the national average, with an index of 90. This means residents can expect to spend about 10% less on transportation than the average American. Healthcare, however, costs slightly more, with an index of 105%, reflecting a 5% increase over the national average. Miscellaneous expenses in Homewood stand at 92%, which is 8% lower than the national average, offering some relief in day-to-day spending. Overall, Homewood presents a cost of living that balances affordability with essential needs.
