Cost of Living in Hanover park, IL
Housing
The housing market plays a significant role in determining the cost of living in Hanover park, IL.
- Housing Index: 115.0 / 100
- Median Home Price is: $408000
- Average Rent (2 BR Apartment): $1800 per month
- Average Rent (2 BR House): $1850 per month
When considering a move to Hanover park, IL, the housing index of 115.0 suggests that the market is slightly above the national average. With a median home price of 408000, homeownership may require significant investment. Renters can expect to pay around 1800 for a two-bedroom apartment or 1850 for a two-bedroom house, which highlights a competitive rental market. It's essential to consider your budget and lifestyle needs, particularly if you're weighing the benefits of renting versus buying in this active real estate environment.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Hanover park, IL.
- Electricity Price: $16.15 USD (median by state)
- Natural Gas Price: $16.59 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Hanover park, IL could entail higher utility costs. Electricity costs sit at $16.15, while natural gas is priced at $16.59 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Hanover park is a financially viable option for your relocation.