Homewood, IL, offers a cost of living that is slightly below the nationwide average. The overall cost of living index for Homewood stands at 97, which is 3% lower than the national average of 100. This makes Homewood an attractive option for those seeking more affordable living expenses.
Housing costs in Homewood are notably lower, with an index of 91, which is 9% below the national average. Groceries, utilities, transportation, healthcare, and miscellaneous items also show a trend of being more affordable, with indices ranging from 95 to 100. This combination of lower costs across various categories makes Homewood a practical choice for budget-conscious individuals.
Homewood, IL, presents a cost of living that is slightly below the nationwide average. The housing index stands at 91, indicating that housing costs in Homewood are 9% lower than the national average. This makes it a more affordable option for those seeking to purchase or rent homes in the area. Additionally, groceries in Homewood are priced at the same level as the national average, with an index of 100. This balance ensures that residents can find food at comparable costs to other areas across the country.
Utilities, however, show a slight increase in Homewood, with an index of 104. This means that utility costs are 4% higher than the national average. Despite this, the overall cost of living remains relatively competitive. Healthcare costs in Homewood are also slightly below the national average, with an index of 97, offering a 3% savings. Miscellaneous expenses, with an index of 98, are nearly on par with the national average, providing a small advantage to residents. Overall, Homewood offers a balanced cost of living with some areas being more affordable and others slightly higher.
