Savoy, IL Cost Of Living
Cost Of Living In Savoy, IL Summary
Cost of living in Savoy 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 Savoy 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 Savoy is 105, with 100 being the average.
The cost of living index in Savoy is 1.1x higher than the national average.
Savoy ranks as the #185 cheapest in Illinois out of 336.
Savoy ranks as the #3,177 cheapest out of 6,489 in the US.
The median home value in Savoy is $346,114.
The median income in Savoy is $88,828.
Table Of Contents
Savoy's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Savoy, IL?
According to the most recent data on the cost of living, Savoy has an overall cost of living index of 105, which is 1.1x higher than the national index of 100.
Compared to Illinois, Savoy has a cost of living index that's 1.1x higher than Illinois's index of 97.
The standard of living in Savoy ranks as #185 most affordable out of the 336 places we measured in Illinois. By definition, that implies Savoy ranks as the #151 most expensive place in the Prairie State.
For more reading on life in Savoy, check out:
In Illinois
In America
Savoy Cost Of Living Vs. Illinois
Six factors go into calculating the cost of living index in Savoy. Here is how it fairs on each of the criteria:
The Services index in Savoy is 103.
The Groceries index in Savoy is 97.
The Health index in Savoy is 88.
The Housing index in Savoy is 113.
The Transportation index in Savoy is 97.
The Utilities index in Savoy is 88.
| Living Expense | Savoy | Illinois | National Average | |
|---|---|---|---|---|
| Overall | 105 | 97 | 100 | |
| Services | 103 | 95 | 100 | |
| Groceries | 97 | 99 | 100 | |
| Health | 88 | 93 | 100 | |
| Housing | 113 | 95 | 100 | |
| Transportation | 97 | 102 | 100 | |
| Utilities | 88 | 91 | 100 | |
Savoy, 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 2019-2023. The key points are:
The Median Home Value in Savoy is $346,114.
The Median Rent in Savoy is $954.
The Median Income in Savoy is $88,828.
The Home Value To Income in Savoy is 3.9x.
The Rent To Monthly Income in Savoy is 0.13x.
Median Home Value
Median Rent
Median Income
Savoy, IL Costs By Category
Detailed Savoy Services Costs Vs. Illinois
Detailed Savoy Groceries Costs Vs. Illinois
Detailed Savoy Health Costs Vs. Illinois
Detailed Savoy Transportation Costs Vs. Illinois
Detailed Savoy Utilities Costs Vs. Illinois
Savoy SnackAbility
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Cost Of Living In Cities Around Savoy
The cost of living varies in the cities and towns around Savoy. Here's a quick look at the cost of living in the most populous nearby places:
Champaign, IL has a cost of living index of 95, 0.9x Savoy.
Urbana, IL has a cost of living index of 91, 0.9x Savoy.
Rantoul, IL has a cost of living index of 84, 0.8x Savoy.
| City | Population | Cost Of Living | Vs. Savoy |
|---|---|---|---|
| Champaign, IL | 88,822 | 95 | 0.9x |
| Urbana, IL | 38,447 | 91 | 0.9x |
| Rantoul, IL | 12,515 | 84 | 0.8x |
| Mahomet, IL | 9,755 | 104 | 1.0x |
| Monticello, IL | 6,332 | 99 | 0.9x |
