| Index | Palos Heights | Illinois | National |
| Cost of living | 118 | 98 | 100 |
| Groceries | 101 | 100 | 100 |
| Health care | 101 | 100 | 100 |
| Housing | 158 | 95 | 100 |
| Transportation | 105 | 101 | 100 |
| Utilities | 98 | 99 | 100 |
| Lifestyle & Entertainment | 102 | 100 | 100 |
| Household Items | 101 | 100 | 100 |
| Education & Childcare | 95 | 100 | 100 |
Getting a feel for the cost of living in Palos Heights is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Palos Heights is 118, which is 18% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
When it comes to the cost of living in Palos Heights, 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 57.9% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
Is Palos Heights 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 Palos Heights is 63.3% higher than the national average, while the average monthly rent prices are 45.2% higher than average. The affordability of any location can also be influenced by median income levels. Palos Heights has a median household income of $135,751, which is 66.9% higher than the national average.
Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Palos Heights, the general sales tax rate starts at 6.25%, and income tax rates begin at 4.95%.
Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Palos Heights, healthcare costs are 0.9% higher than the national average.
Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Palos Heights, the groceries index is 1.2% higher than the national average.
The Palos Heights cost of living data above is designed around a U.S. average baseline of 100, allowing for easy comparisons of relative living costs. Housing incorporates U.S. Census home price and rental data, while all other figures are AI-assisted estimates that account for regional price trends, climate, transportation dynamics, and common everyday expenses. These values are best used as directional 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 | $144,005 | $12,000 | $3,360 | $4,321 |
| Renters | $118,833 | $9,903 | $2,773 | $3,565 |
| 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% |
| Ford Heights, IL | 2,801 | 83 | 16.6% |
| Phoenix, IL | 1,450 | 85 | 14.6% |
| Dixmoor, IL | 3,663 | 87 | 12.6% |
| Harvey, IL | 24,931 | 87 | 13.2% |
| Palos Heights, IL | 12,722 | 118 | 17.8% |
| City | Population | Cost of Living Index | National Avg. |
| Naranja, FL | 12,720 | 109 | 9.4% |
| Marysville, CA | 12,718 | 117 | 16.7% |
| Viera East, FL | 12,733 | 118 | 18.1% |
| Broussard, LA | 12,710 | 103 | 3.0% |
| Fort Atkinson, WI | 12,734 | 96 | 3.9% |
| Palos Heights, IL | 12,722 | 118 | 17.8% |
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