Hoffman Estates, IL Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Hoffman Estates, IL Summary

Cost of living in Hoffman Estates research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Hoffman Estates is expensive. An index value below 100 means the city is a relatively cheap place to live.

On a city-by-city basis in Illinois, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:

  • The cost of living index in Hoffman Estates is 118, with 100 being the average.

  • The cost of living index in Hoffman Estates is 1.2x higher than the national average.

  • Hoffman Estates ranks as the #287 cheapest in Illinois out of 338.

  • Hoffman Estates ranks as the #4,687 cheapest out of 6,412 in the US.

  • The median home value in Hoffman Estates is $294,200.

  • The median income in Hoffman Estates is $96,274.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
118
Hoffman Estates's Overall Cost Of Living
1.2x
Higher Than The National Average

What is the cost of living in Hoffman Estates, IL?

According to the most recent data on the cost of living, Hoffman Estates has an overall cost of living index of 118, which is 1.2x higher than the national index of 100.

Compared to Illinois, Hoffman Estates has a cost of living index that's 1.3x higher than Illinois's index of 92.

The standard of living in Hoffman Estates ranks as #287 most affordable out of the 338 places we measured in Illinois. By definition, that implies Hoffman Estates ranks as the #51 most expensive place in the Prairie State.

For more reading on life in Hoffman Estates, check out:

287 out of 338
In Illinois
4,687 out of 6,412
In America

Hoffman Estates Cost Of Living Vs. Illinois

Six factors go into calculating the cost of living index in Hoffman Estates. Here is how it fairs on each of the criteria:

  • The Services index in Hoffman Estates is 112.

  • The Groceries index in Hoffman Estates is 105.

  • The Health index in Hoffman Estates is 100.

  • The Housing index in Hoffman Estates is 134.

  • The Transportation index in Hoffman Estates is 115.

  • The Utilities index in Hoffman Estates is 92.

Living Expense Hoffman Estates Illinois National Average
Overall 118 92 100
Services 112 95 100
Groceries 105 98 100
Health 100 96 100
Housing 134 81 100
Transportation 115 105 100
Utilities 92 90 100
For more reading on cost of living around Illinois, check out:
Hoffman Estates Cost of Living Vs. IL

Hoffman Estates, IL Housing Cost Breakdown

Housing swings affordability the most between places in Illinois, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:

  • The Median Home Value in Hoffman Estates is $294,200.

  • The Median Rent in Hoffman Estates is $1,490.

  • The Median Income in Hoffman Estates is $96,274.

  • The Home Value To Income in Hoffman Estates is 3.1x.

  • The Rent To Monthly Income in Hoffman Estates is 0.19x.

Statistic Hoffman Estates Illinois United States
Median Home Value $294,200 $212,600 $244,900
Median Rent $1,490 $1,097 $1,163
Median Income $96,274 $72,563 $69,021
Home Value To Income 3.1x 2.9x 3.5x
Rent To Monthly Income 0.19x 0.18x 0.2x
Search Homes For Sale In Hoffman Estates, IL
$294,200
Median Home Value
$1,490
Median Rent
$96,274
Median Income

Hoffman Estates, IL Costs By Category

Detailed Hoffman Estates Services Costs Vs. Illinois

Item Hoffman Estates Illinois
Shampoo $1.06 $1.06
Movie $14.85 $10.68
Bowling $15.76 $14.67
Haircut $27.76 $18.62
Beauty Salon $65.57 $39.05

Detailed Hoffman Estates Groceries Costs Vs. Illinois

Item Hoffman Estates Illinois
Ground Beef $4.87 $4.22
Fried Chicken $1.99 $1.39
Milk $2.42 $2.05
Potatoes $3.23 $3.29
Pizza $12.0 $10.62
Beer $8.61 $9.38
Toothpaste $2.46 $2.34

Detailed Hoffman Estates Health Costs Vs. Illinois

Item Hoffman Estates Illinois
Optometrist $96.76 $108.57
Doctor $104.96 $116.17
Dentist $101.82 $99.13

Detailed Hoffman Estates Transportation Costs Vs. Illinois

Item Hoffman Estates Illinois
Gasoline $2.51 $2.22
Tire Balancing $56.85 $50.07

Detailed Hoffman Estates Utilities Costs Vs. Illinois

Item Hoffman Estates Illinois
All Electricity $131.89 $167.67
Phone $203.16 $175.64

Hoffman Estates SnackAbility

7
/10
Overall SnackAbility
Jobs
8.5/10
Housing
8.5
Affordability
8
Diversity
10
Safety
N/A
Amenities
9
Education
8.5
Commute
4

Cost Of Living In Cities Around Hoffman Estates

The cost of living varies in the cities and towns around Hoffman Estates. Here's a quick look at the cost of living in the most populous nearby places:

  • Schaumburg, IL has a cost of living index of 117, 1.0x Hoffman Estates.

  • Palatine, IL has a cost of living index of 117, 1.0x Hoffman Estates.

  • Glenview, IL has a cost of living index of 147, 1.2x Hoffman Estates.

City Population Cost Of Living Vs. Hoffman Estates
Schaumburg, IL 78,053 117 1.0x
Palatine, IL 67,754 117 1.0x
Glenview, IL 48,150 147 1.2x
Elmhurst, IL 45,661 131 1.1x
Buffalo Grove, IL 43,062 121 1.0x
Streamwood, IL 39,736 112 0.9x
Park Ridge, IL 39,562 131 1.1x
Hanover Park, IL 37,545 107 0.9x
Northbrook, IL 35,108 156 1.3x
Highland Park, IL 30,245 152 1.3x

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