Melrose Park cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexMelrose ParkIllinoisNational
Cost of living index10499100
IndexMelrose ParkIllinoisNational
Goods & Services index10698100
Groceries index10899100
Health care index100101100
Housing index9899100
Transportation index11297100
Utilities index104101100
Here we can see a simple outline of the cost of living in Melrose Park, IL. As you can see, with the average cost of living in Melrose Park, IL being 104, that puts it 5% higher than the average of Illinois and 4% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Melrose Park, IL, the price of goods and services are 8% higher than the average of Illinois as well as 6% higher than the nation's average.

Did you know?

  • The cost of living in Melrose Park is 5% higher than the Illinois average.
  • The cost of living in Melrose Park is 4% higher than the national average.
  • The cost of housing in Melrose Park is 2% lower than the national average.
  • Illinois general sales tax is 23% higher than the national average.
  • Illinois state income tax is 69% higher than the national average.

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Compare Melrose Park, IL Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in Melrose Park, IL to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Melrose Park, IL, then you would need to earn more income in order to maintain the same standard of living. To use the Melrose Park, IL salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$61,238$5,103$1,429$1,837
Renters$34,258$2,855$799$1,028
If you want to find a good determining factor for the cost of living and the general affordability of housing in Melrose Park, IL, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Melrose Park, IL, the median monthly income is $61,238 for those who own their own homes. Under the standard rule, that income level would allow for $1,429 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $34,258, per the median income in the area. That would allow for renters to spend up to $799 on monthly rental expenses.

Illinois Sales Tax

StateGeneral Sales TaxWith Max Surtax
Illinois6.25%9.75%

Illinois Income Tax

StateIncome Tax (Low)Income Tax (High)
Illinois3.75%3.75%
One thing to keep in mind when considering the cost of living in Melrose Park, IL is the Illinois sales tax and Illinois income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Illinois sales tax rate is 6.25% and the maximum surtax that can be charged is 9.75%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Illinois income tax rates range from 3.75% to 3.75%.

Goods & Services

ItemMelrose ParkNational avg.Difference
Haircut $17.50$14.5919.9%
Beauty Salon $45.00$34.6829.8%
Toothpaste $2.34$2.475.4%
Shampoo $0.99$1.023.1%
Movie $13.75$9.8739.3%
Bowling $5.00$4.3913.9%

Groceries

ItemMelrose ParkNational avg.Difference
Ground Beef $5.37$4.4820.0%
Fried Chicken $1.42$1.463.0%
Milk $1.74$2.3626.2%
Potatoes $2.50$3.0618.3%
Pizza $10.99$9.2418.9%
Beer $14.25$8.6365.1%

Health Care

ItemMelrose ParkNational avg.Difference
Optometrist $95.00$99.784.8%
Doctor $100.00$105.034.8%
Dentist $100.00$88.7012.7%
Ibuprofen $9.24$9.411.8%
Lipitor $262.00$298.5012.2%

Housing

ItemMelrose ParkNational avg.Difference
Home Price $173,800.00$175,700.001.1%
Avg. Mortgage Payment $1,500.61$1,081.0338.8%
Apartment Rent $877.00$920.004.7%

Transportation

ItemMelrose ParkNational avg.Difference
Gasoline $2.29$2.099.5%
Tire Balancing $53.31$45.2917.7%

Utilities

ItemMelrose ParkNational avg.Difference
All Electricity$173.99$170.801.9%
Phone $30.05$28.266.3%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Hodgkins, IL2,18588-12%
Hometown, IL4,35893-7%
Cicero, IL84,42399-1%
Bellwood, IL19,14999-1%
Maywood, IL24,148100-0%
Melrose Park, IL25,5141044%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Vernon Hills, IL25,53512626%
Clinton, MS25,48689-11%
Cave Spring, VA25,54797-3%
Brawley, CA25,47899-1%
Owatonna, MN25,55094-6%
Melrose Park, IL25,5141044%
Source: The Melrose Park, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.