Cost of Living in Homewood, IL
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
139.8
100 = national avg
+39.8 vs national average
Living Wage (1 Adult)
$61,509
per year
Living Wage (Family of 4)
$145,386
per year
Cost Index by Category
Housing156.1
Food123.8
Transportation133.3
Healthcare119.0
Utilities125.5
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 Homewood is 139.8, which is 39.8% above the national average. Housing costs are above the national average at an index of 156.1. A single adult needs to earn approximately $61,509 per year to cover basic expenses.