| Index | Melrose Park | Illinois | National |
| Cost of living | 102 | 98 | 100 |
| Groceries | 101 | 100 | 100 |
| Health care | 99 | 100 | 100 |
| Housing | 110 | 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 |
Understanding the cost of living in Melrose Park can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Melrose Park cost of living index is 102, which is 2% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
The cost of living in Melrose Park is about average when compared to all other cities across the nation. You can expect that everyday items like food, household expenses and utility bills will be no more expensive than any other average city. Residents can anticipate living expenses that remain in line with the national average, ensuring a manageable financial burden, making it an attractive choice for those seeking affordability without the constraints of higher everyday expenditures.
Is Melrose Park an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Melrose Park is 9% higher than the national average, while the average monthly rent prices are 11% higher than average. The affordability of any location can also be influenced by median income levels. Melrose Park has a median household income of $80,324, which is 1.2% lower than the national average.
Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.
Housing: High demand for housing in desirable locations can drive up property prices and rental rates. This can be a primary contributor to a higher cost of living. While low demand for housing, especially in undesirable locations, can have the reverse effect and drive prices down, resulting in a lower cost of living. The housing index in Melrose Park, is 9.6% higher than the national average.
Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Melrose Park, the utilities index is 4% lower than the national average.
The cost of living estimates displayed for Melrose Park are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $101,273 | $8,439 | $2,363 | $3,038 |
| Renters | $69,569 | $5,797 | $1,623 | $2,087 |
| 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% |
| Chicago Ridge, IL | 14,340 | 99 | 1.3% |
| Broadview, IL | 7,841 | 99 | 0.9% |
| Melrose Park, IL | 26,171 | 102 | 2.0% |
| City | Population | Cost of Living Index | National Avg. |
| Haines City, FL | 26,146 | 100 | 0.3% |
| Dedham, MA | 26,137 | 152 | 51.6% |
| Soledad, CA | 26,210 | 143 | 42.8% |
| Coral Terrace, FL | 26,129 | 127 | 27.4% |
| Lochearn, MD | 26,216 | 111 | 11.2% |
| Melrose Park, IL | 26,171 | 102 | 2.0% |
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