Monthly Cost Of Living In Alexander County Is The Lowest In Illinois

From The Center Square:

Residents of Alexander County need to make only $2,731 every month to maintain a modest standard of living, making it the least 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 examined in the study -- which identified the region in each state where the cost of living is lowest -- housing costs can account for less than 15 percent of total living expenses.

The monthly housing cost in Alexander County was $304. And the median household income in the region stood at $34,709.

The May 2020 jobless rate there was 14.1 percent. Unemployment rates in half of the most affordable counties were above the 13 percent national average during the coronavirus pandemic, the website reported. And local population growth in recent years in many of these regions was less than 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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