Cost of Living in Highland park, IL

Housing

The housing market plays a significant role in determining the cost of living in Highland park, IL.

• Housing Index: 135.8 / 100
• Median Home Price is: $607500
• Average Rent (2 BR Apartment): $2300 per month
• Average Rent (2 BR House): $2430 per month

When considering moving to Highland park, IL, the housing market demonstrates a relatively high housing index of 135.8. This indicates that housing prices may be above the national average, which can impact your overall budget. The median home price is quite steep at 607500, and rental options reflect this trend, with the average rent for a 2-bedroom apartment around 2300 and a 2-bedroom house at 2430. It's crucial to weigh these costs against your financial situation and quality of life factors before making a decision.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Highland 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.): $290 per month

Living in Highland 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 290 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 Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 125.3

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $159567

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Highland park, IL, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.