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 99, with 100 being the average.
The cost of living index in Savoy is 1.0x lower than the national average.
Savoy ranks as the #163 cheapest in Illinois out of 338.
Savoy ranks as the #3,027 cheapest out of 6,412 in the US.
The median home value in Savoy is $238,600.
The median income in Savoy is $78,584.
According to the most recent data on the cost of living, Savoy has an overall cost of living index of 99, which is 1.0x lower 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 92.
The standard of living in Savoy ranks as #163 most affordable out of the 338 places we measured in Illinois. By definition, that implies Savoy ranks as the #175 most expensive place in the Prairie State.
For more reading on life in Savoy, check out:
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 92.
The Groceries index in Savoy is 91.
The Health index in Savoy is 103.
The Housing index in Savoy is 109.
The Transportation index in Savoy is 99.
The Utilities index in Savoy is 98.
|Living Expense||Savoy||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 Savoy is $238,600.
The Median Rent in Savoy is $939.
The Median Income in Savoy is $78,584.
The Home Value To Income in Savoy is 3.0x.
The Rent To Monthly Income in Savoy is 0.14x.
|Median Home Value||$238,600||$212,600||$244,900|
|Home Value To Income||3.0x||2.9x||3.5x|
|Rent To Monthly Income||0.14x||0.18x||0.2x|
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 93, 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 80, 0.8x Savoy.