B
Overall 11%
Goods & Services 4%
Housing 38%
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The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
IndexPark ForestIllinoisNational
Cost of living8997100
Goods & Services9696100
Groceries10297100
Health care10798100
Housing6295100
Transportation119104100
Utilities8996100

Key findings

  • The cost of living in Park Forest is 9% lower than the Illinois average
  • The cost of living in Park Forest is 11% lower than the national average
  • Park Forest housing is 38% lower than the national average
  • Illinois general sales tax is 23% higher than the national average
  • Illinois state income tax is 101% higher than the national average

Most Affordable Places to Live in and Around Park Forest

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Compare Park Forest, IL Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$58,602$4,884$1,367$1,758
      Renters$24,254$2,021$566$728
      To approximate the cost of living and the housing affordability in Park Forest, IL, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Park Forest have a median income of $58,602. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,367 per month to avoid calamity and poverty. The renters in the city have an income of about $24,254, which would make their monthly maximum allowable rental costs $566.

      Illinois Sales Tax

      StateGeneral Sales TaxWith Max Surtax
      Illinois6.25%10.25%

      Illinois Income Tax

      StateIncome Tax (Low)Income Tax (High)
      Illinois4.95%4.95%

      Goods & Services

      ItemPark ForestNational avg.Difference
      Haircut $21.35$20.275.3%
      Beauty Salon $35.49$40.3912.1%
      Toothpaste $2.30$2.362.4%
      Shampoo $1.15$1.086.5%
      Movie $10.70$10.992.6%
      Bowling $15.90$15.492.7%

      Groceries

      ItemPark ForestNational avg.Difference
      Ground Beef $5.08$4.3018.2%
      Fried Chicken $1.58$1.4013.1%
      Milk $1.83$2.2017.0%
      Potatoes $3.69$3.2214.7%
      Pizza $11.60$10.748.0%
      Beer $8.83$9.608.0%

      Health Care

      ItemPark ForestNational avg.Difference
      Optometrist $106.97$109.732.5%
      Doctor $158.13$118.3433.6%
      Dentist $104.70$100.943.7%
      Ibuprofen $8.56$9.9313.8%
      Lipitor $447.95$469.534.6%

      Housing

      ItemPark ForestNational avg.Difference
      Home Price $75,300.00$184,700.0059.2%
      Avg. Mortgage Payment $993.54$1,229.6219.2%
      Apartment Rent $1,056.00$949.0011.3%

      Transportation

      ItemPark ForestNational avg.Difference
      Gasoline $3.36$2.7124.1%
      Tire Balancing $58.05$51.8611.9%

      Utilities

      ItemPark ForestNational avg.Difference
      All Electricity$132.05$170.8422.7%
      Phone $194.51$187.183.9%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      CityPopulationCost of Living IndexNational Avg.
      Dixmoor, IL3,6148910.9%
      Ford Heights, IL2,775909.7%
      East Chicago, IN28,961919.5%
      Harvey, IL25,625928.2%
      Robbins, IL5,216928.0%
      Park Forest, IL21,8318911.3%

      Cities with similar population

      CityPopulationCost of Living IndexNational Avg.
      Stoneham, MA21,83114646.3%
      Kings, Subd. A, NS21,831n/a 
      Kenmore, WA21,83014949.4%
      Acworth, GA21,824955.0%
      Prairie Village, KS21,8241022.1%
      Park Forest, IL21,8318911.3%
      Source: This data reflects 2021 and was released from C2ER in January, 2022; this is the most current data available.