The $3,806 Monthly Cost Of Living In McHenry County Is The Highest In Illinois

From The Center Square:

By the Center Square Staff

September 30 2020

(The Center Square) – Residents of McHenry County need to make $3,806 every month to maintain a modest standard of living, making it the most expensive place in Illinois to live, according to an analysis from 24/7 Wall St.

The Economic Policy Institute’s Family Budget Calculator was used to determine the local cost of living, which includes housing, food, health care, transportation and other necessities. In many of the locations identified, housing costs can account for more than 30 percent of these expenses.

The monthly housing cost in McHenry County was $981. And the median household income in the region stood at $84,803.

The May 2020 jobless rate there was 13.3 percent. Unemployment rates in these counties tended to be below the 13 percent national average during the coronavirus pandemic, the website reported, while local population growth in recent years was above the U.S. average.

The 24/7 Wall St. analysis ranked counties by estimating the cost of living for a single adult resident to have a modest quality of life.

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Most Expensive Regions in Each State: Click here to view

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