Cost of living in Lockport 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 Lockport 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 Lockport is 104, with 100 being the average.
The cost of living index in Lockport is 1.0x higher than the national average.
Lockport ranks as the #193 cheapest in Illinois out of 338.
Lockport ranks as the #3,585 cheapest out of 6,412 in the US.
The median home value in Lockport is $256,400.
The median income in Lockport is $96,481.
According to the most recent data on the cost of living, Lockport has an overall cost of living index of 104, which is 1.0x higher than the national index of 100.
Compared to Illinois, Lockport has a cost of living index that's 1.1x higher than Illinois's index of 92.
The standard of living in Lockport ranks as #193 most affordable out of the 338 places we measured in Illinois. By definition, that implies Lockport ranks as the #145 most expensive place in the Prairie State.
For more reading on life in Lockport, check out:
Six factors go into calculating the cost of living index in Lockport. Here is how it fairs on each of the criteria:
The Services index in Lockport is 95.
The Groceries index in Lockport is 96.
The Health index in Lockport is 110.
The Housing index in Lockport is 114.
The Transportation index in Lockport is 111.
The Utilities index in Lockport is 87.
|Living Expense||Lockport||Illinois||National Average|
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 Lockport is $256,400.
The Median Rent in Lockport is $1,377.
The Median Income in Lockport is $96,481.
The Home Value To Income in Lockport is 2.7x.
The Rent To Monthly Income in Lockport is 0.17x.
|Median Home Value||$256,400||$212,600||$244,900|
|Home Value To Income||2.7x||2.9x||3.5x|
|Rent To Monthly Income||0.17x||0.18x||0.2x|
The cost of living varies in the cities and towns around Lockport. Here's a quick look at the cost of living in the most populous nearby places:
Naperville, IL has a cost of living index of 125, 1.2x Lockport.
Wheaton, IL has a cost of living index of 118, 1.1x Lockport.
Romeoville, IL has a cost of living index of 103, 1.0x Lockport.
|City||Population||Cost Of Living||Vs. Lockport|
|Glen Ellyn, IL||28,506||132||1.3x|
|New Lenox, IL||26,942||110||1.1x|
|Homer Glen, IL||24,664||120||1.2x|
|Crest Hill, IL||20,305||94||0.9x|