Grandwood Park, IL Cost Of Living
Cost Of Living In Grandwood Park, IL Summary
Cost of living in Grandwood Park research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Grandwood Park is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Illinois, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Grandwood Park is 113, with 100 being the average.
The cost of living index in Grandwood Park is 1.1x higher than the national average.
Grandwood Park ranks as the #238 cheapest in Illinois out of 336.
Grandwood Park ranks as the #3,948 cheapest out of 6,489 in the US.
The median home value in Grandwood Park is $354,244.
The median income in Grandwood Park is $124,847.
Table Of Contents
Grandwood Park's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Grandwood Park, IL?
According to the most recent data on the cost of living, Grandwood Park has an overall cost of living index of 113, which is 1.1x higher than the national index of 100.
Compared to Illinois, Grandwood Park has a cost of living index that's 1.2x higher than Illinois's index of 97.
The standard of living in Grandwood Park ranks as #238 most affordable out of the 336 places we measured in Illinois. By definition, that implies Grandwood Park ranks as the #98 most expensive place in the Prairie State.
For more reading on life in Grandwood Park, check out:
In Illinois
In America
Grandwood Park Cost Of Living Vs. Illinois
Six factors go into calculating the cost of living index in Grandwood Park. Here is how it fairs on each of the criteria:
The Services index in Grandwood Park is 108.
The Groceries index in Grandwood Park is 105.
The Health index in Grandwood Park is 109.
The Housing index in Grandwood Park is 144.
The Transportation index in Grandwood Park is 107.
The Utilities index in Grandwood Park is 88.
| Living Expense | Grandwood Park | Illinois | National Average | |
|---|---|---|---|---|
| Overall | 113 | 97 | 100 | |
| Services | 108 | 95 | 100 | |
| Groceries | 105 | 99 | 100 | |
| Health | 109 | 93 | 100 | |
| Housing | 144 | 95 | 100 | |
| Transportation | 107 | 102 | 100 | |
| Utilities | 88 | 91 | 100 | |
Grandwood Park, IL Housing Cost Breakdown
Housing swings affordability the most between places in Illinois, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Grandwood Park is $354,244.
The Median Rent in Grandwood Park is $1,797.
The Median Income in Grandwood Park is $124,847.
The Home Value To Income in Grandwood Park is 2.8x.
The Rent To Monthly Income in Grandwood Park is 0.17x.
| Statistic | Grandwood Park | Illinois | United States |
|---|---|---|---|
| Median Home Value | $354,244 | $283,508 | $303,400 |
| Median Rent | $1,797 | $1,227 | $1,348 |
| Median Income | $124,847 | $81,702 | $78,538 |
| Home Value To Income | 2.8x | 3.5x | 3.9x |
| Rent To Monthly Income | 0.17x | 0.18x | 0.21x |
Median Home Value
Median Rent
Median Income
Grandwood Park, IL Costs By Category
Detailed Grandwood Park Services Costs Vs. Illinois
| Item | Grandwood Park | Illinois |
|---|---|---|
| Shampoo | $1.27 | $1.28 |
| Movie | $17.91 | $12.13 |
| Bowling | $24.58 | $18 |
| Haircut | $33.69 | $24.26 |
| Beauty Salon | $53.44 | $45.56 |
Detailed Grandwood Park Groceries Costs Vs. Illinois
| Item | Grandwood Park | Illinois |
|---|---|---|
| Ground Beef | $5.28 | $5.84 |
| Fried Chicken | $1.42 | $1.57 |
| Milk | $4.87 | $4.67 |
| Potatoes | $4.9 | $4.93 |
| Pizza | $13.41 | $12.09 |
| Beer | $10.0 | $10.41 |
| Toothpaste | $3.75 | $3.7 |
Detailed Grandwood Park Health Costs Vs. Illinois
| Item | Grandwood Park | Illinois |
|---|---|---|
| Optometrist | $118.27 | $125.68 |
| Doctor | $167.67 | $135.78 |
| Dentist | $128.22 | $113.29 |
Detailed Grandwood Park Transportation Costs Vs. Illinois
| Item | Grandwood Park | Illinois |
|---|---|---|
| Gasoline | $3.56 | $3.46 |
| Tire Balancing | $70.87 | $59.92 |
Detailed Grandwood Park Utilities Costs Vs. Illinois
| Item | Grandwood Park | Illinois |
|---|---|---|
| All Electricity | $148.58 | $193.99 |
| Phone | $210.03 | $192.25 |
Grandwood Park SnackAbility
/10
Cost Of Living In Cities Around Grandwood Park
The cost of living varies in the cities and towns around Grandwood Park. Here's a quick look at the cost of living in the most populous nearby places:
Buffalo Grove, IL has a cost of living index of 125, 1.1x Grandwood Park.
Northbrook, IL has a cost of living index of 153, 1.4x Grandwood Park.
Gurnee, IL has a cost of living index of 117, 1.0x Grandwood Park.
| City | Population | Cost Of Living | Vs. Grandwood Park |
|---|---|---|---|
| Buffalo Grove, IL | 42,824 | 125 | 1.1x |
| Northbrook, IL | 34,642 | 153 | 1.4x |
| Gurnee, IL | 30,486 | 117 | 1.0x |
| Highland Park, IL | 30,229 | 148 | 1.3x |
| Round Lake Beach, IL | 27,081 | 100 | 0.9x |
| Vernon Hills, IL | 26,772 | 125 | 1.1x |
| Grayslake, IL | 20,707 | 113 | 1.0x |
| Libertyville, IL | 20,493 | 135 | 1.2x |
| Lake Zurich, IL | 19,727 | 127 | 1.1x |
| Deerfield, IL | 19,185 | 148 | 1.3x |
