Cost of Living in Palos Park, IL

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F
29%
Overall NAT. AVG.
3%
Groceries NAT. AVG.
101%
Housing NAT. AVG.
Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index Palos Park Illinois National
Cost of living12998100
Groceries97100100
Health care101100100
Housing20195100
Transportation100101100
Utilities9799100
Lifestyle & Entertainment100100100
Household Items101100100
Education & Childcare95100100
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Homes For Sale In Palos Park, IL

property for sale

120 Commons Dr #120

Palos Park, IL
property for sale

12600 Sheffield Ct

Palos Park, IL
property for sale

10305 W 125th St

Palos Park, IL
property for sale

12735 S 84th Ave

Palos Park, IL

Cost Of Living Quick Facts

  • The cost of living in Palos Park is 32% higher than the Illinois average
  • The cost of living in Palos Park is 29% higher than the national average
  • Palos Park housing is 101% higher than the national average
  • Illinois general sales tax is 22% higher than the national average
  • Illinois state income tax is 91% higher than the national average

Most Affordable Places to Live in and Around Palos Park

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Compare Palos Park, IL Cost of Living

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      Salary Calculator

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      Cost of living index
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      Health care index
      Housing index
      Transportation index
      Utilities index
      Lifestyle index
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      Educare index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$175,109$14,592$4,086$5,254
      Renters$0$0$0$0
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Palos Park, IL, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Palos Park homeowners, is $175,109. This would allow for a maximum of $4,086 per month to be spent on housing costs. For renters, the median monthly income is $0 which would result in a maximum of $0 to be spent on rental costs.

      Illinois Sales Tax

      State General Sales Tax With Max Surtax
      Illinois 6.25% 10.25%

      Illinois Income Tax

      State Income Tax (Low) Income Tax (High)
      Illinois 4.95% 4.95%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Hodgkins, IL1,8178316.9%
      Ford Heights, IL2,8018316.6%
      Phoenix, IL1,4508514.6%
      Dixmoor, IL3,6638712.6%
      Harvey, IL24,9318713.2%
      Palos Park, IL4,87512929.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Lake Wildwood, CA4,87614948.5%
      Suncoast Estates, FL4,8768911.0%
      Mineola, TX4,8768911.1%
      Blue Point, NY4,87314746.9%
      Dorneyville, PA4,87311717.1%
      Palos Park, IL4,87512929.3%
      Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
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