Cost of Living in Lima, IL
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
88.8
100 = national avg
-11.2 vs national average
Living Wage (1 Adult)
$39,086
per year
Living Wage (Family of 4)
$92,385
per year
Cost Index by Category
Housing59.1
Food104.5
Transportation108.9
Healthcare103.6
Utilities94.5
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$811
per month
2 Bedroom
$1,064
per month
The overall cost of living index in Lima is 88.8, which is 11.2% below the national average. Housing costs are below the national average at an index of 59.1. A single adult needs to earn approximately $39,086 per year to cover basic expenses.