D
10%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
29%
Housing NAT. AVG.
Search Homes for Sale
Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
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.
Index Tinley Park Illinois National
Cost of living11096100
Goods & Services10697100
Groceries9798100
Health care9895100
Housing12995100
Transportation114103100
Utilities8089100

An Overview of Cost of Living in Tinley Park, IL

Getting a feel for the cost of living in Tinley Park 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 Tinley Park is 110, which is 10% 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.

The cost of living in Tinley Park closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, goods and services, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Tinley Park can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.

Housing costs are a very significant part of the Tinley Park cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 29.1% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

Is Tinley Park Affordable?

Wondering if Tinley Park is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Tinley Park, for example, the median home price is 29% higher than what folks pay nationally, and monthly rent is 29.3% higher than the usual rates. Plus, income levels matter too, with Tinley Park boasting a median household income of $82,163, which is 48.5% higher than the national average.

What Factors can Influence the Cost of Living in Tinley Park?

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 Tinley Park, healthcare costs are 2.3% lower 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 Tinley Park, the general sales tax rate starts at 6.25%, and income tax rates begin at 4.95%.

Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.

Where is the Data From?

The Tinley Park cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Tinley Park is 14% higher than the Illinois average
  • The cost of living in Tinley Park is 10% higher than the national average
  • Tinley Park housing is 29% higher than the national average
  • Illinois general sales tax is 22% higher than the national average
  • Illinois state income tax is 119% higher than the national average

Most Affordable Places to Live in and Around Tinley Park

See all the best places to live around Tinley Park

Compare Tinley Park, IL Cost of Living

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      Salary Calculator

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      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 Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$91,734$7,645$2,140$2,752
      Renters$49,514$4,126$1,155$1,486
      The affordability of the housing market in Tinley Park, IL as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Tinley Park homeowners, the median income is $91,734. This indicates that a monthly maximum of $2,140 should be spent by homeowners on all housing related costs. Renters have a median income of $49,514. This indicates that renters would have a maximum of $1,155 for their rent related monthly 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%

      Goods & Services

      Item Tinley Park National avg. Difference
      Haircut $19.72$24.2618.7%
      Beauty Salon $37.22$45.5618.3%
      Toothpaste $3.72$3.700.6%
      Shampoo $1.32$1.283.3%
      Movie $9.99$12.1317.7%
      Bowling $16.00$18.0011.1%

      Groceries

      Item Tinley Park National avg. Difference
      Ground Beef $5.94$5.841.8%
      Fried Chicken $1.39$1.5711.8%
      Milk $4.55$4.672.5%
      Potatoes $5.08$4.933.0%
      Pizza $10.69$12.0911.6%
      Beer $9.61$10.417.7%

      Health Care

      Item Tinley Park National avg. Difference
      Optometrist $86.67$125.6831.0%
      Doctor $110.00$135.7819.0%
      Dentist $82.00$113.2927.6%
      Ibuprofen $10.17$10.654.5%
      Lipitor $511.00$468.609.0%

      Housing

      Item Tinley Park National avg. Difference
      Home Price $238,200.00$184,700.0029.0%
      Avg. Mortgage Payment $1,316.57$2,346.6943.9%
      Apartment Rent $1,227.00$949.0029.3%

      Transportation

      Item Tinley Park National avg. Difference
      Gasoline $3.52$3.461.7%
      Tire Balancing $45.00$59.9224.9%

      Utilities

      Item Tinley Park National avg. Difference
      All Electricity $156.87$193.9919.1%
      Phone $198.03$192.253.0%
      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

      City Population Cost of Living Index National Avg.
      Hodgkins, IL1,7538514.6%
      Ford Heights, IL2,7058614.2%
      Phoenix, IL1,4028812.0%
      Dixmoor, IL3,5709010.2%
      Harvey, IL24,2959010.1%
      Tinley Park, IL56,0821109.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Fountain Valley, CA56,11818685.7%
      Pocatello, ID56,016919.5%
      New Brunswick, NJ55,99212020.3%
      Commerce City, CO55,89112423.6%
      Diamond Bar, CA55,87017675.8%
      Tinley Park, IL56,0821109.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.