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Cost of Living in Granite City, Illinois

Dated: October 19 2023

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Granite City, Illinois, is a charming city with a rich history and a strong sense of community. If you're considering a move to this area or are just curious about the cost of living in Granite City, you've come to the right place. In this blog post, we'll delve into the various aspects that make up the cost of living in Granite City, Illinois, and provide you with valuable information to help you make an informed decision.

Housing Costs in Granite City

Housing is one of the most significant factors in the cost of living, and Granite City offers a range of options to suit different budgets. Whether you're looking to buy or rent, the city has something for everyone:

 

a. Home Purchase

 

The median home price in Granite City is relatively affordable compared to many other parts of Illinois. You can find single-family homes for as low as $80,000, with larger and more luxurious options available.

The property tax rate is generally competitive, making homeownership an attractive option for many.

b. Renting

 

If you're not ready to buy, renting is a viable option. Average rental rates for a two-bedroom apartment in Granite City are typically in the range of $600 to $800 per month.

Rental properties are available in various neighborhoods, so you can find a location that suits your preferences and budget.

Utility Costs

Utility expenses are a crucial part of your monthly budget. In Granite City, the cost of utilities is relatively consistent with national averages. Here are some essential details to consider:

 

a. Electricity: The average monthly electricity bill for a standard 900-square-foot apartment is approximately $100 to $120.

 

b. Water and Sewer: A typical water bill for a family of four will cost around $50 to $60 per month.

 

c. Heating: The cost of heating your home during the winter months may vary, but natural gas is the primary heating source, with an average monthly bill ranging from $50 to $100.

Transportation

Getting around Granite City and the surrounding areas is relatively easy and affordable. The city's infrastructure supports various transportation options:

 

a. Public Transportation: The Granite City Township Transit System (GCTTS) provides convenient bus services, and fares are reasonably priced.

 

b. Personal Vehicles: Gasoline prices in Granite City are typically in line with national averages. The city's well-maintained roads make driving a reliable and efficient choice.

Groceries and Food

When it comes to daily necessities, Granite City offers a variety of grocery stores and dining options. The cost of groceries and dining out can significantly impact your monthly budget:

 

a. Groceries: A typical grocery bill for a family of four may average around $400 to $500 per month. Popular grocery chains and local markets offer a wide range of products to choose from.

 

b. Dining Out: The city boasts a diverse culinary scene, and dining out can range from affordable fast-food options to more upscale dining experiences. An average meal at a mid-range restaurant for one person can cost around $12 to $25.

Healthcare Costs

Access to quality healthcare is an essential consideration for any community. In Granite City, you'll find medical facilities that offer a range of services. Health insurance costs can vary widely based on your personal circumstances, but the availability of healthcare providers and facilities is excellent.

Education

For families with children, educational opportunities are a crucial factor in deciding where to live. Granite City has a range of public and private schools. Illinois law requires children between the ages of 6 and 17 to attend school, but you have the option to choose public or private education, homeschooling, or other alternatives.

 

a. Public Schools: Granite City Community Unit School District #9 serves the area, providing a variety of educational programs for students of all ages.

 

b. Private Schools: Several private schools offer alternative education options, including religious institutions and independent academies.

 

c. Higher Education: Granite City is close to institutions like Southern Illinois University Edwardsville, providing excellent opportunities for higher education.

Taxes

Understanding the tax structure in Granite City is crucial for managing your finances effectively. Here's a brief overview:

 

a. Property Taxes: Property tax rates vary by location within the city and are assessed by the local government. The average effective property tax rate in Madison County, where Granite City is located, is around 1.33%.

 

b. Sales Tax: The combined sales tax rate in Granite City is typically around 7.85%, which includes state and local taxes. This rate may vary slightly depending on the specific location within the city.

 

c. Income Tax: Illinois has a flat income tax rate, which is currently set at 4.95% of your federal adjusted gross income.

Conclusion

Granite City, Illinois, offers a cost of living that is generally affordable and competitive when compared to many other places in the state. With various housing options, reasonable utility costs, and access to quality healthcare and education, it's an attractive place to call home.

 

As a realtor, I understand the importance of choosing the right location to meet your lifestyle and budget needs. If you're considering a move to Granite City or have questions about the real estate market in the area, feel free to reach out. I'm here to assist you in finding the perfect property to make your new home in this vibrant and welcoming community.

 

Ultimately, Granite City, Illinois, combines the benefits of a small-town feel with the convenience of being close to the larger urban centers of the region, making it a fantastic place to live and work. Make an informed decision about the cost of living in Granite City, and you may find that it's the perfect place for your next adventure.

FAQs About Cost of Living in Granite City, Illinois:

1. What is the average home price in Granite City, Illinois?

The average home price in Granite City, Illinois, varies but can be as low as $80,000 for single-family homes.

 

2. How much can I expect to pay for utilities in Granite City?

Utility costs in Granite City, including electricity, water, and heating, average around $250 to $280 per month for a standard household.

 

3. Is public transportation available in Granite City?

Yes, Granite City has a public bus system, the Granite City Township Transit System (GCTTS), providing convenient and affordable transportation options.

 

4. What is the typical monthly grocery bill for a family in Granite City?

A typical grocery bill for a family of four in Granite City ranges from $400 to $500 per month.

 

5. Are there healthcare facilities available in Granite City, Illinois?

Yes, Granite City has access to quality healthcare facilities and providers to meet your medical needs.

 

6. What is the property tax rate in Granite City, Illinois?

The property tax rate in Granite City varies by location within the city but generally falls around 1.33% in Madison County, where the city is located.

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