Schaumburg, IL Cost Of Living
Cost Of Living In Schaumburg, IL Summary
Cost of living in Schaumburg 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 Schaumburg 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 Schaumburg is 117, with 100 being the average.
The cost of living index in Schaumburg is 1.2x higher than the national average.
Schaumburg ranks as the #262 cheapest in Illinois out of 336.
Schaumburg ranks as the #4,212 cheapest out of 6,489 in the US.
The median home value in Schaumburg is $346,947.
The median income in Schaumburg is $94,690.
Table Of Contents
Schaumburg's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Schaumburg, IL?
According to the most recent data on the cost of living, Schaumburg has an overall cost of living index of 117, which is 1.2x higher than the national index of 100.
Compared to Illinois, Schaumburg has a cost of living index that's 1.2x higher than Illinois's index of 97.
The standard of living in Schaumburg ranks as #262 most affordable out of the 336 places we measured in Illinois. By definition, that implies Schaumburg ranks as the #74 most expensive place in the Prairie State.
For more reading on life in Schaumburg, check out:
In Illinois
In America
Schaumburg Cost Of Living Vs. Illinois
Six factors go into calculating the cost of living index in Schaumburg. Here is how it fairs on each of the criteria:
The Services index in Schaumburg is 108.
The Groceries index in Schaumburg is 105.
The Health index in Schaumburg is 107.
The Housing index in Schaumburg is 146.
The Transportation index in Schaumburg is 108.
The Utilities index in Schaumburg is 91.
| Living Expense | Schaumburg | Illinois | National Average | |
|---|---|---|---|---|
| Overall | 117 | 97 | 100 | |
| Services | 108 | 95 | 100 | |
| Groceries | 105 | 99 | 100 | |
| Health | 107 | 93 | 100 | |
| Housing | 146 | 95 | 100 | |
| Transportation | 108 | 102 | 100 | |
| Utilities | 91 | 91 | 100 | |
Schaumburg, 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 Schaumburg is $346,947.
The Median Rent in Schaumburg is $1,774.
The Median Income in Schaumburg is $94,690.
The Home Value To Income in Schaumburg is 3.7x.
The Rent To Monthly Income in Schaumburg is 0.22x.
| Statistic | Schaumburg | Illinois | United States |
|---|---|---|---|
| Median Home Value | $346,947 | $283,508 | $303,400 |
| Median Rent | $1,774 | $1,227 | $1,348 |
| Median Income | $94,690 | $81,702 | $78,538 |
| Home Value To Income | 3.7x | 3.5x | 3.9x |
| Rent To Monthly Income | 0.22x | 0.18x | 0.21x |
Median Home Value
Median Rent
Median Income
Schaumburg, IL Costs By Category
Detailed Schaumburg Services Costs Vs. Illinois
| Item | Schaumburg | Illinois |
|---|---|---|
| Shampoo | $1.27 | $1.28 |
| Movie | $17.91 | $12.13 |
| Bowling | $24.58 | $18 |
| Haircut | $33.69 | $24.26 |
| Beauty Salon | $53.44 | $45.56 |
Detailed Schaumburg Groceries Costs Vs. Illinois
| Item | Schaumburg | Illinois |
|---|---|---|
| Ground Beef | $5.28 | $5.84 |
| Fried Chicken | $1.42 | $1.57 |
| Milk | $4.87 | $4.67 |
| Potatoes | $4.9 | $4.93 |
| Pizza | $13.41 | $12.09 |
| Beer | $10.0 | $10.41 |
| Toothpaste | $3.75 | $3.7 |
Detailed Schaumburg Health Costs Vs. Illinois
| Item | Schaumburg | Illinois |
|---|---|---|
| Optometrist | $118.27 | $125.68 |
| Doctor | $167.67 | $135.78 |
| Dentist | $128.22 | $113.29 |
Detailed Schaumburg Transportation Costs Vs. Illinois
| Item | Schaumburg | Illinois |
|---|---|---|
| Gasoline | $3.56 | $3.46 |
| Tire Balancing | $70.87 | $59.92 |
Detailed Schaumburg Utilities Costs Vs. Illinois
| Item | Schaumburg | Illinois |
|---|---|---|
| All Electricity | $148.58 | $193.99 |
| Phone | $210.03 | $192.25 |
Schaumburg SnackAbility
/10
Cost Of Living In Cities Around Schaumburg
The cost of living varies in the cities and towns around Schaumburg. Here's a quick look at the cost of living in the most populous nearby places:
Hoffman Estates, IL has a cost of living index of 118, 1.0x Schaumburg.
Glenview, IL has a cost of living index of 149, 1.3x Schaumburg.
Elmhurst, IL has a cost of living index of 139, 1.2x Schaumburg.
| City | Population | Cost Of Living | Vs. Schaumburg |
|---|---|---|---|
| Hoffman Estates, IL | 51,186 | 118 | 1.0x |
| Glenview, IL | 47,682 | 149 | 1.3x |
| Elmhurst, IL | 45,538 | 139 | 1.2x |
| Buffalo Grove, IL | 42,824 | 125 | 1.1x |
| Park Ridge, IL | 39,241 | 138 | 1.2x |
| Streamwood, IL | 39,055 | 111 | 0.9x |
| Hanover Park, IL | 36,850 | 109 | 0.9x |
| Northbrook, IL | 34,642 | 153 | 1.3x |
| Highland Park, IL | 30,229 | 148 | 1.3x |
| Wilmette, IL | 27,550 | 164 | 1.4x |
