Cost of Living in Newark, IL
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
145.4
100 = national avg
+45.4 vs national average
Living Wage (1 Adult)
$63,958
per year
Living Wage (Family of 4)
$151,174
per year
Cost Index by Category
Housing128.3
Food149.1
Transportation139.3
Healthcare139.3
Utilities135.1
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,562
per month
2 Bedroom
$2,050
per month
The overall cost of living index in Newark is 145.4, which is 45.4% above the national average. Housing costs are above the national average at an index of 128.3. A single adult needs to earn approximately $63,958 per year to cover basic expenses.