Cost of Living in Palatine, IL
Housing
The housing market plays a significant role in determining the cost of living in Palatine, IL.
- Housing Index: 110.0 / 100
- Median Home Price is: $316,000
- Average Rent (2 BR Apartment): $1800 per month
- Average Rent (2 BR House): $1840 per month
When considering a move to Palatine, IL, it's essential to note its population of and a median age of years, indicating a likely mix of youth and established professionals. With a median income of and a low poverty level of %, the economic stability is promising. The presence of 44.0% married families suggests a family-friendly community. However, an unemployment rate of % could warrant caution. Overall, Palatine offers a desirable environment for families and professionals alike, making it a strong contender for your next home.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Palatine, 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 Palatine, 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 Palatine is a financially viable option for your relocation.