| Index | Elmwood Park | Illinois | National |
| Cost of living | 111 | 98 | 100 |
| Groceries | 101 | 100 | 100 |
| Health care | 99 | 100 | 100 |
| Housing | 141 | 95 | 100 |
| Transportation | 102 | 101 | 100 |
| Utilities | 96 | 99 | 100 |
| Lifestyle & Entertainment | 96 | 100 | 100 |
| Household Items | 98 | 100 | 100 |
| Education & Childcare | 94 | 100 | 100 |
Knowing the cost of living in Elmwood Park allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Elmwood Park stands at 111, marking it 11% higher than the national average.
When it comes to the cost of living in Elmwood Park, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 41.1% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
Wondering if Elmwood Park is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Elmwood Park, for example, the median home price is 48.1% higher than what folks pay nationally, and monthly rent is 24.9% higher than the usual rates. Plus, income levels matter too, with Elmwood Park boasting a median household income of $94,614, which is 16.3% higher than the national average.
Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Elmwood Park, the transportation index is 2.4% higher than the national average.
Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Elmwood Park, healthcare costs are 1% lower than the national average.
Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Elmwood Park, the prevailing sales tax rate starts at 6.25%, and income tax rates kick off at 4.95%.
The Elmwood Park cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $125,649 | $10,471 | $2,932 | $3,770 |
| Renters | $58,495 | $4,875 | $1,365 | $1,755 |
| State | General Sales Tax | With Max Surtax |
| Illinois | 6.25% | 10.25% |
| State | Income Tax (Low) | Income Tax (High) |
| Illinois | 4.95% | 4.95% |
| City | Population | Cost of Living Index | National Avg. |
| Hodgkins, IL | 1,817 | 83 | 16.9% |
| Hometown, IL | 4,350 | 89 | 11.2% |
| Maywood, IL | 23,986 | 96 | 3.6% |
| Broadview, IL | 7,841 | 99 | 0.9% |
| Bellwood, IL | 19,287 | 99 | 1.0% |
| Elmwood Park, IL | 24,953 | 111 | 11.5% |
| City | Population | Cost of Living Index | National Avg. |
| Harvey, IL | 24,931 | 87 | 13.2% |
| San Benito, TX | 24,920 | 82 | 17.8% |
| North Potomac, MD | 24,916 | 174 | 74.3% |
| Papillion, NE | 24,905 | 104 | 3.6% |
| Arnold, MD | 24,899 | 144 | 44.2% |
| Elmwood Park, IL | 24,953 | 111 | 11.5% |
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