Cost of Living in Oakwood, IL
Housing
The housing market plays a significant role in determining the cost of living in Oakwood, IL.
- Housing Index: 101.8 / 100
- Median Home Price is: $100,000
- Average Rent (2 BR Apartment): $1707 per month
- Average Rent (2 BR House): $1855 per month
When considering a move to Oakwood, IL, the current housing index stands at 101.8, indicating a slightly above-average cost of living. The median home price of 100000 presents an accessible entry point for first-time buyers. However, renters should note the average costs for a 2-bedroom apartment and house, standing at 1707 and 1855 respectively, suggesting a reasonable but competitive rental market. It's imperative to assess local amenities and job opportunities that contribute to overall quality of life when making your decision.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Oakwood, IL.
- Electricity Price: $16.15 USD (median by state)
- Natural Gas Price: $16.59 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $244 per month
Living in Oakwood, IL could entail higher utility costs. Electricity costs sit at $16.15, while natural gas is priced at $16.59 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $244 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Oakwood is a financially viable option for your relocation.