Cost of Living in Channel Lake, IL
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
122.1
100 = national avg
+22.1 vs national average
Living Wage (1 Adult)
$53,743
per year
Living Wage (Family of 4)
$127,029
per year
Cost Index by Category
Housing162.5
Food98.9
Transportation97.8
Healthcare99.1
Utilities111.8
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,581
per month
2 Bedroom
$1,781
per month
The overall cost of living index in Channel Lake is 122.1, which is 22.1% above the national average. Housing costs are above the national average at an index of 162.5. A single adult needs to earn approximately $53,743 per year to cover basic expenses.