| Index | Park Forest | Illinois | National |
| Cost of living | 91 | 98 | 100 |
| Groceries | 100 | 100 | 100 |
| Health care | 100 | 100 | 100 |
| Housing | 68 | 95 | 100 |
| Transportation | 103 | 101 | 100 |
| Utilities | 100 | 99 | 100 |
| Lifestyle & Entertainment | 99 | 100 | 100 |
| Household Items | 100 | 100 | 100 |
| Education & Childcare | 101 | 100 | 100 |
Understanding the cost of living in Park Forest 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 Park Forest cost of living index is 91, which is 9% lower 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 Park Forest 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 Park Forest affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Park Forest, for instance, where the median home price falls 59.3% lower than the national average, and monthly rent rates are 32.5% higher than usual. Additionally, median income levels contribute to the equation, with Park Forest flaunting a median household income of $84,262, 3.6% higher than the national norm.
Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Park Forest, the transportation index is 2.5% higher than the national average.
Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday household expenses, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Park Forest, the standard sales tax rate starts at 6.25%, and the income tax rates commence at 4.95%.
Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Park Forest, healthcare costs are 0.4% higher than the national average.
The cost of living estimates displayed for Park Forest 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.
| 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 | $83,774 | $6,981 | $1,955 | $2,513 |
| Renters | $79,951 | $6,663 | $1,865 | $2,399 |
| 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. |
| Ford Heights, IL | 2,801 | 83 | 16.6% |
| East Chicago, IN | 28,835 | 82 | 17.8% |
| Phoenix, IL | 1,450 | 85 | 14.6% |
| Dixmoor, IL | 3,663 | 87 | 12.6% |
| Harvey, IL | 24,931 | 87 | 13.2% |
| Park Forest, IL | 21,311 | 91 | 9.3% |
| City | Population | Cost of Living Index | National Avg. |
| Murphy, TX | 21,307 | 133 | 33.0% |
| Lynn Haven, FL | 21,344 | 110 | 9.9% |
| Lebanon, OH | 21,351 | 97 | 2.8% |
| Fernley, NV | 21,270 | 113 | 12.8% |
| South El Monte, CA | 21,353 | 148 | 47.7% |
| Park Forest, IL | 21,311 | 91 | 9.3% |
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