Cost of Living in Palmer, IL
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
81.6
100 = national avg
-18.4 vs national average
Living Wage (1 Adult)
$35,905
per year
Living Wage (Family of 4)
$84,866
per year
Cost Index by Category
Housing68.4
Food90.4
Transportation92.9
Healthcare92.4
Utilities87.9
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$742
per month
2 Bedroom
$974
per month
The overall cost of living index in Palmer is 81.6, which is 18.4% below the national average. Housing costs are below the national average at an index of 68.4. A single adult needs to earn approximately $35,905 per year to cover basic expenses.