CHAMPAIGN, Ill. (WCIA) — Illinois is the 16th most expensive state for household bills, according to the 2022 State by State Bill Pay Market report released by doxo.
This report investigates the $4.6 trillion U.S. consumer bill pay market and breaks it down into the 10 most common household bill payment categories, including mortgage, rent, loans, utilities, insurance and more. Illinois residents spend $2,029 each month across the top 10 household bills, 1.3% above the national average of $2,003. The report reveals 36% of household income is required to cover the bills.
Champaign’s average monthly payment on the 10 most common household bills is $1,795, 11.6% lower than the state average. It ranks the 147th most expensive city in Illinois for household bills.
Doxo officials said this unique view of relative expenses discovered growing strains on household budgets due to inflation. Doxo’s recent study shows that consumers feel a 6% yearly jump in household bill payments and worry about their ability to pay if inflation rates continue to rise.
Click here to read the full report.