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: $316000
• 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 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: 105.2

Median Income

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

• Median Income: $93383

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 Palatine, 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.