Lake View, IA vs Hanna City, IL: Cost of Living

Which city costs less?

Hanna City, IL has a modeled overall cost index 0.1% higher than Lake View, IA.

Lake View, IA · modeled 2BR rent
$920 / month
Hanna City, IL · modeled 2BR rent
$990 / month

These are saved estimates, not current rental listings. Some cities use adjusted regional data. Your household budget can differ from the overall index. Sources and assumptions

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Cost of Living Comparison 2026

Compare Lake View, IA and Hanna City, IL using saved regional data and explicit budgeting assumptions. Rent estimates are not live listings. Change the salary below, then check the source notes before applying a result to your household.

Saved regional estimates · Sources and assumptions

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Numbers update automatically as you type

Estimated extra cost: $333/month in Hanna City, IL

$150,000 in your current city has a modeled equivalent of $153,992 in Hanna City, IL

Regional cost estimates: Lake View, IA uses Omaha, NE. Hanna City, IL uses Chicago, IL. Available city ZIP rent estimates are shown separately.
Overall Cost
↑ 0.1%
More expensive
Monthly Impact
$333
Extra cost
Annual Impact
$4.0K
Per year

Assumes 60% of current gross income goes to living costs. The headline uses the category budget below; taxes, moving costs and savings goals are excluded.

Lake View, IA

Population:1K
Cost Index:
73.4
100 = national average
Typical Home:$216K

Hanna City, IL

Population:1K
Cost Index:
73.5
100 = national average
Typical Home:$215K

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Lake View, IA

The Hawkeye State

1K
Population
State Tax
Yes

Located in Iowa, this city has a population of 1K residents.

Hanna City, IL

The Prairie State

1K
Population
State Tax
Yes

Located in Illinois, this city has a population of 1K residents.

Cost Breakdown by Category

Estimated monthly spending: Lake View, IA vs Hanna City, IL

Assumes 60% of your current gross income is spent on these categories. The headline and totals use this same budget. Rent estimates below are separate reference data. Rounded amounts may differ by $1.

Housing
↑ 22.8%
Lake View, IA
$2,001
Hanna City, IL
$2,457
Difference
$456
more
Transportation
↑ 13.9%
Lake View, IA
$1,313
Hanna City, IL
$1,496
Difference
$183
more
Healthcare
↓ 19.9%
Lake View, IA
$802
Hanna City, IL
$642
Difference
$159
less
Other
↓ 8.8%
Lake View, IA
$1,715
Hanna City, IL
$1,565
Difference
$150
less
All Utilities
↑ 1.4%
Lake View, IA
$553
Hanna City, IL
$561
Difference
$7.85
more
Groceries
↓ 0.5%
Lake View, IA
$1,116
Hanna City, IL
$1,111
Difference
$5.09
less

🏠Rent Comparison

Studio
From$790
To$720
↓ $70.00
1 Bed
From$790
To$780
↓ $10.00
2 Bed
From$920
To$990
↑ $70.00
3 Bed
From$1,230
To$1,280
↑ $50.00
Lake View, IAZIP-level data

1BR range: $790–$790/mo

Hanna City, ILZIP-level data

1BR range: $780–$780/mo

💡 Note: HUD Fair Market Rents estimate 40th-percentile gross rents, including most tenant-paid utilities. City ZIP summaries are medians of those estimates, not market median rents. Actual prices vary by neighborhood, amenities, and condition. Source: HUD Small Area Fair Market Rents FY2026.

$7,500
Monthly in Lake View, IA
$7,833
Monthly in Hanna City, IL
$333
Difference

Home Values

Lake View
Hanna City
$216K
Median Value
$215K
↑ +3.6%
YoY Change
↑ +10.6%
↑ +43.4%
5-Year Change
↑ +42.5%
Calculate payment - Lake ViewCalculate payment - Hanna City

Source: Zillow Home Value Index (ZHVI), January 2026

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings
↑ $3.3K
Per year
Monthly Difference
$273
More take-home
Effective Rate Diff
2.2%
Rate difference

Lake View, IA

Federal Income Tax
Effective: 18.9%
$25.5K
Iowa State Tax
Effective: 7.1%
$10.7K
FICA Taxes
Social Security + Medicare
$11.5K
Total Taxes
Effective: 31.8%
$47.7K
Take-Home Pay
$8,524/month
$102.3K

Hanna City, IL

Federal Income Tax
Effective: 18.9%
$25.5K
Illinois State Tax
Effective: 5.0%
$7.4K
FICA Taxes
Social Security + Medicare
$11.5K
Total Taxes
Effective: 29.6%
$44.4K
Take-Home Pay
$8,797/month
$105.6K

Additional Tax Information

Lake View, IA Tax Rates

Sales Tax:7.4%
Property Tax:1.5%

Hanna City, IL Tax Rates

Sales Tax:8.8%
Property Tax:2.2%

💡 Note: Tax calculations are estimates based on 2024/2025 tax brackets for single filers with standard deduction. Actual taxes may vary based on filing status, deductions, credits, and local variations.

Environment

Lake View
Hanna City
45 Good
Air Quality
54 Moderate
63.7%
Good Air Days
35.8%
96 High
Climate Risk
100 Very High
🌊🌡🌪
Top Hazards
🌊🌡🫨
▲+3.4°F
2050 Outlook
▲+3.2°F
35 days
Heat Days >95°F
18 days
▲+3.4°F
2050 Outlook
▲+3.2°F
35 days
Heat Days >95°F
18 days

Before moving from Lake View, IA to Hanna City, IL

Use this comparison to shortlist a move, then check the costs that depend on your household.

  1. Compare actual homes. Get current quotes in Hanna City, IL for the same bedroom count and included utilities as your home in Lake View, IA. Add parking, deposits, insurance and any overlapping leases. The rent estimates above are a starting point, not available listings.
  2. Confirm your income. Check your expected pay with your employer, including any location adjustment. Use “Different salary at destination?” above to compare two incomes. The budget model excludes taxes and one-time moving costs; it is not a take-home-pay calculation.
  3. Price your daily routine. Check the commute from a specific address to work, school or childcare. Add household expenses missing from this model, such as childcare, debt payments and medical needs. Verify local services before signing a lease.
  4. Plan the transition. Get moving quotes and budget for travel, setup costs and time off. Open your Lake View to Hanna City moving checklist to organize the tasks and timing.

Still choosing a destination? Explore cities similar to Hanna City, IL by cost, housing, population and region.

Frequently Asked Questions: Lake View, IA vs Hanna City, IL

How do the cost estimates for Lake View, IA and Hanna City, IL compare?

Hanna City, IL has a modeled overall cost index 0.1% higher than Lake View, IA. This is a broad model comparison, not a survey of today's prices or a forecast of your household spending. Some cities use adjusted regional fallback data.

What does the equivalent salary mean?

At a $150,000 salary in Lake View, IA, the model estimates $153,992 in Hanna City, IL. It allocates 60% of gross income to the origin city’s category budget and applies each destination category’s relative cost. The equivalent salary adds the total category difference to your income. The monthly difference is the same category difference divided by 12; it is not take-home pay or guaranteed savings. Household size, childcare and your actual lease are not inputs to this calculation.

What rent estimates are available for Lake View, IA and Hanna City, IL?

The modeled two-bedroom rents are $920/month in Lake View, IA and $990/month in Hanna City, IL. Where available, the source is a city median of HUD FY2026 ZIP-level estimates; otherwise a saved metro table is used. City adjustments may also apply. These are not asking rents or available listings. Compare actual properties with the same bedroom count and included utilities.

How should I use this comparison before moving?

Use it to shortlist locations, then replace modeled costs with a current housing quote, employer-confirmed income, commute costs, insurance and your household's other expenses. Add one-time moving costs separately. Source years differ and the saved datasets are not a live price feed. Read the methodology for the formulas and fallback rules.

💰 See how taxes change too — compare take-home pay between Iowa and Illinois on TaxTakeHome.com

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