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Springfield Comes in With Low Cost of Living

Updated: Friday, May 30 2014, 03:52 PM CDT
SPRINGFIELD -- The numbers are in and they bring some good news for capital city residents. Four times a year, the Chamber of Commerce releases reports on the cost of living in our area. The most recent study says your money goes a lot further here in Springfield.

Up and down the sidewalks of Springfield are restaurants and shops, grocery stores and bars, all of which will offer you goods and services for less than you could get many places in the United States and in Illinois. That is according to a report released by the Springfield Chamber of Commerce.

"We don't see the great value that we have here," said Kyle Killebrew, a realtor in Springfield.

You may not recognize it, but Springfield is one of the best places to live when it comes to cost of living.

"We came out 12% below the national average and and about 5% below other communities in the state of Illinois," said John Parrish, Chamber of Commerce's Director of Business Expansion and Attraction.

Those numbers come from a survey conducted by the Springfield Chamber of Commerce back in mid-January. It measures everyday expenses like groceries, utilities, transportation, healthcare, and housing.

"In Springfield, we're fortunate," said Killebrew. "The average sale price here is relatively low compared to most places, even across the United States, and definitely here, even in Illinois."

"I would say the gas prices are better, and we're gonna go to lunch at the Lincoln Museum and I anticipate the prices will be cheaper than were I came from," Jim Dudley, a tourist visiting the area.

It's not just living expenses either. It's cheaper for non-essentials, too.

"When we go to St. Louis or Chicago, for sure, we're paying a higher tax or paying more for all the goods and services that we want," said Killebrew.

According to Parrish, the lower cost of living benefits two groups specifically, young business people looking for place to pay off their debt quickly, and older folks searching for a place to retire.

"They want to stretch those retirement dollars well out into the future... Springfield should be a place for them to consider living, as well," said Parrish.

Springfield Realtor Kyle Killebrew mentions what contributes to the reasonable cost of living.

"I don't know that we just maybe haven't caught up with other areas," said Killebrew, "so when you look at that perspective, I think it's all been pretty status-quo and so what that the values have stayed relatively equal."

The most impressive difference came from the miscellaneous category, that includes things like clothing, fast food, and entertainment. The survey shows that's where you'll save the most by living in Springfield.

For the full report on the cost of living in town, click here.Springfield Comes in With Low Cost of Living

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