Cost of Living in Loraine, IL
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
79.0
100 = national avg
-21.0 vs national average
Living Wage (1 Adult)
$34,742
per year
Living Wage (Family of 4)
$82,118
per year
Cost Index by Category
Housing58.9
Food93.5
Transportation86.9
Healthcare94.8
Utilities87.8
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 Loraine is 79.0, which is 21.0% below the national average. Housing costs are below the national average at an index of 58.9. A single adult needs to earn approximately $34,742 per year to cover basic expenses.