Cost of Living in Elmwood, IL
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
112.3
100 = national avg
+12.3 vs national average
Living Wage (1 Adult)
$49,418
per year
Living Wage (Family of 4)
$116,805
per year
Cost Index by Category
Housing92.4
Food117.0
Transportation134.0
Healthcare113.6
Utilities108.7
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$818
per month
2 Bedroom
$1,039
per month
The overall cost of living index in Elmwood is 112.3, which is 12.3% above the national average. Housing costs are below the national average at an index of 92.4. A single adult needs to earn approximately $49,418 per year to cover basic expenses.