Cost of Living in Crystal Lake, Illinois
Crystal Lake is a city in McHenry County, Illinois, with a population of 40,170. The total cost of housing, food, child care, transportation, health care, taxes, and other necessities for a single adult in Crystal Lake is $43,795 a year — greater than the annual cost of living for Illinois of $37,387 and greater than the national figure of $38,433.
Using cost of living data from the nonprofift think tank Economic Policy Institute, 24/7 Wall St. estimated the cost of living in Crystal Lake and over 29,000 other cities and towns in the US.
Housing Costs in Crystal Lake, Illinois
Housing is one of the largest components of cost of living. In Crystal Lake, the median home value is $219,200, greater than the national median home value of $204,900.
Renting is a sometimes lower cost alternative to homeownership. In Crystal Lake, some 25.00% of occupied homes are rented, less than the 36.2% national renter rate. The typical renter in Crystal Lake spends $1,263 a month on housing, less than the $1,023 national median monthly rent.
In addition to home value, one of the largest determinants of housing affordability is area income. While nationwide the price of a typical U.S. home is 3.4 times the $60,293 U.S. median household income, housing affordability ratios range from approximately 1.0 in the least expensive cities to more than 10.0 in the country's most expensive markets. In Crystal Lake, the median household income is $87,221, 2.5 times the median home value.
Transportation Costs in Crystal Lake, Illinois
Transportation can also be a significant component of cost of living. In Crystal Lake, 88.80% of commuters drive to work, compared to 85.5% of commuters nationwide. An estimated 71.10% of workers commute to jobs outside of Crystal Lake, a larger share than the 43.7% share of commuters nationwide who live and work in different cities. The average commute in Crystal Lake is 31.6 minutes long, compared to the 26.6-minute average commute nationwide. Taking into account the cost of gas, as well as public transit and car maintenance, the EPI estimates that a single person in Crystal Lake spends $10,887 a year on transportation, more than the national average of $9,760.
Health Care Costs in Crystal Lake, Illinois
Out-of-pocket health care costs and insurance premiums — assuming at least a basic level of health insurance coverage — are far higher than they are on average nationwide in Crystal Lake and also above what they are across Illinois as a whole.
For a single adult living in the area, average health care costs come out to $4,938 per year, compared to an average of $4,566 across Illinois and $4,266 nationwide.
Child care Costs in Crystal Lake, Illinois
For families with children, child care adds thousands of dollars to overall annual spending. In Crystal Lake, the average annual cost of child care for two children — one 4 year old and one 8 year old — is $19,008, about $2,000 more than the comparable average of $16,970 across all of Illinois. Meanwhile, across the U.S. as a whole, childcare expenses for two children averages $15,853 per year.
Food Costs in Crystal Lake, Illinois
Food is another every day expense that has a significant impact on overall cost of living. Data from the U.S. Department of Agriculture shows that the cost of food varies from city to city and town to town.
In Crystal Lake, a single adult spends an average of $3,080 on food annually, and a family of four spends $8,895 on average. For context, average annual food expenditure across Illinois and the U.S., respectively, are $3,004 and $3,240 for a single adult, and $8,674 and $9,354 for a family of four. These estimates are calculated for a nutritionally adequate diet of food purchased at a grocery store for at-home preparation.
Taxes in Crystal Lake, Illinois
Few expenses vary as much from city to city and town to town as taxes. Accounting for state and federal income taxes, as well as Social Security contributions and Medicare payroll taxes, the average adult working in Crystal Lake, Illinois pays $7,814 annually — a relatively high sum compared to the the statewide average of $6,458.
It is important to note that these calculations do not include other common taxes such as property, sales, and excise taxes. Accounting for these taxes, while excluding taxes levied at the federal level, Crystal Lake residents live in a state with a modest average tax burden. Per capita state tax collections in Illinois total $3,128 per year, compared to the $3,151 average across all states.
To estimate the cost of housing, food, transportation, health care, child care, taxes, and other necessities, 24/7 Wall St. assigned county-level Economic Policy Institute data to cities, towns, villages and Census-designated places based on boundary definitions from the U.S. Census Bureau. For places that span multiple counties, data was aggregated based on the percentage of boundary overlap.
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