Cost of Living in Bannockburn, IL

With a cost of living index of 167, Bannockburn, IL is one of the most expensive cities in the United States. Living here is 67% more expensive than the national average and 87% above the Illinois state average of 80. Bannockburn is a small community of 1,125 residents.

The median household income in Bannockburn is $195,625, which is 160% higher than the national median of $75,149. While incomes are above average, they more than offset the higher cost of living.

Everyday prices in the Chicago-Naperville-Elgin, IL-IN (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 5 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.