What is the cost of living in Inverness, IL?
According to the most recent data on the cost of living, Inverness has an overall cost of living index of 178, which is 1.8x higher than the national index of 100.
Compared to Illinois, Inverness has a cost of living index that's 1.8x higher than Illinois's index of 98.
The standard of living in Inverness ranks as #329 most affordable out of the 336 places we measured in Illinois. By definition, that implies Inverness ranks as the #7 most expensive place in the Prairie State.
For more reading on life in Inverness, check out:
Inverness Cost Of Living Vs. Illinois
Six factors go into calculating the cost of living index in Inverness. Here is how it fares on each of the criteria:
The Services index in Inverness is 102.
The Groceries index in Inverness is 99.
The Health index in Inverness is 359.
The Housing index in Inverness is 101.
The Transportation index in Inverness is 98.
The Utilities index in Inverness is 96.
| Living Expense | Inverness | Illinois | National Average |
|---|---|---|---|
| Overall | 178 | 98 | 100 |
| Services | 102 | 99 | 100 |
| Groceries | 99 | 99 | 100 |
| Health | 359 | 96 | 100 |
| Housing | 101 | 101 | 100 |
| Transportation | 98 | 99 | 100 |
| Utilities | 96 | 101 | 100 |
Inverness Cost Of Living Compared To Illinois Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Illinois, check out:
Protect your home budget Compare home warranties in Inverness Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Inverness, 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 2020-2024. The key points are:
The Median Home Value in Inverness is $787,209.
The Median Rent in Inverness is -.
The Median Income in Inverness is $207,434.
The Home Value To Income in Inverness is 3.8x.
The Rent To Monthly Income in Inverness is nanx.
Inverness, IL Costs By Category
Detailed Inverness Services costs vs. Illinois
Detailed Inverness Groceries costs vs. Illinois
Detailed Inverness Health costs vs. Illinois
Detailed Inverness Transportation costs vs. Illinois
Inverness SnackAbility
Cost Of Living In Cities Around Inverness
The cost of living varies in the cities and towns around Inverness. 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 115, 0.6x Inverness.
Palatine, IL has a cost of living index of 113, 0.6x Inverness.
Hoffman Estates, IL has a cost of living index of 118, 0.7x Inverness.
| City | Population | Cost Of Living | Vs. Inverness |
|---|---|---|---|
| Schaumburg, IL | 76,868 | 115 | 0.6x |
| Palatine, IL | 66,293 | 113 | 0.6x |
| Hoffman Estates, IL | 51,175 | 118 | 0.7x |
| Glenview, IL | 47,752 | 146 | 0.8x |
| Elmhurst, IL | 45,671 | 134 | 0.8x |
| Buffalo Grove, IL | 42,891 | 126 | 0.7x |
| Park Ridge, IL | 38,667 | 135 | 0.8x |
| Northbrook, IL | 34,585 | 151 | 0.8x |
| Highland Park, IL | 30,398 | 144 | 0.8x |
| Wilmette, IL | 27,503 | 161 | 0.9x |
