Cost of Living in Oak park, IL

Housing

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

• Housing Index: 115.0 / 100
• Median Home Price is: $398000
• Average Rent (2 BR Apartment): $1900 per month
• Average Rent (2 BR House): $1935 per month

Considering a move to Oak park, IL? With a housing index of 115.0, it indicates the cost of living is relatively higher than the national average. The median home price stands at 398000, positioning it in the mid-range market. Renters could expect to pay about 1900 for a 2-bedroom apartment or 1935 for a house. While the rental costs may seem steep, the area's potential for appreciation could warrant the investment. Always consider the available amenities and lifestyle options as vital factors in your decision-making process.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Oak 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 Oak 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 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: 112.3

Median Income

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

• Median Income: $103264

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 Oak 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.