Cost of Living in Homewood, IL
Overall index: 87 (100 = US national average). Data source: US Census ACS 2023 & BLS OEWS 2025, 2025.
Overall Cost of Living Index
Cost Breakdown by Category
| Category | Index | vs US avg | Sample cost |
|---|---|---|---|
| Housing | 60 | -40% | $995 |
| Transportation | 107 | +7% | $3.50 |
| Food | 129 | +29% | $529 |
| Utilities | 80 | -20% | $108 |
| Healthcare | 80 | -20% | $78 |
Index 100 = US national average. Higher = more expensive.
Cost breakdown (visual)
Salary Calculator: What do you need to earn in Homewood?
A single adult living comfortably in Homewood, IL needs approximately $30,450 / year after taxes.
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Frequently Asked Questions
What is the cost of living in Homewood, IL?
The overall cost of living in Homewood, IL is 13% lower than the US national average (index: 87 where 100 = national average).
How much is rent in Homewood, IL?
Average rent for a 1-bedroom apartment in Homewood, IL is about $995/month.
Is Homewood, IL expensive to live in?
No, Homewood, IL is affordable (below national average).
What salary do I need to live in Homewood, IL?
A single adult needs roughly $30,450/year to cover basic living costs in Homewood, IL.