What is the cost of living in Hanover Park, IL?
According to the most recent data on the cost of living, Hanover Park has an overall cost of living index of 109, which is 1.1x higher than the national index of 100.
Compared to Illinois, Hanover Park has a cost of living index that's 1.1x higher than Illinois's index of 98.
The standard of living in Hanover Park ranks as #215 most affordable out of the 336 places we measured in Illinois. By definition, that implies Hanover Park ranks as the #121 most expensive place in the Prairie State.
For more reading on life in Hanover Park, check out:
Hanover Park Cost Of Living Vs. Illinois
Six factors go into calculating the cost of living index in Hanover Park. Here is how it fares on each of the criteria:
The Services index in Hanover Park is 101.
The Groceries index in Hanover Park is 99.
The Health index in Hanover Park is 123.
The Housing index in Hanover Park is 105.
The Transportation index in Hanover Park is 97.
The Utilities index in Hanover Park is 98.
| Living Expense | Hanover Park | Illinois | National Average |
|---|---|---|---|
| Overall | 109 | 98 | 100 |
| Services | 101 | 99 | 100 |
| Groceries | 99 | 99 | 100 |
| Health | 123 | 96 | 100 |
| Housing | 105 | 101 | 100 |
| Transportation | 97 | 99 | 100 |
| Utilities | 98 | 101 | 100 |
Hanover Park Cost Of Living Compared To Illinois Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Illinois, check out:
Protect your home budget Compare home warranties in Hanover Park Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Hanover 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 2020-2024. The key points are:
The Median Home Value in Hanover Park is $321,958.
The Median Rent in Hanover Park is $1,594.
The Median Income in Hanover Park is $91,763.
The Home Value To Income in Hanover Park is 3.5x.
The Rent To Monthly Income in Hanover Park is 0.21x.
| Statistic | Hanover Park | Illinois | United States |
|---|---|---|---|
| Median Home Value | $321,958 | $285,735 | $332,700 |
| Median Rent | $1,594 | $1,274 | $1,413 |
| Median Income | $91,763 | $83,390 | $80,734 |
| Home Value To Income | 3.5x | 3.4x | 4.1x |
| Rent To Monthly Income | 0.21x | 0.18x | 0.21x |
Hanover Park, IL Costs By Category
Detailed Hanover Park Services costs vs. Illinois
| Item | Hanover 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 Hanover Park Groceries costs vs. Illinois
| Item | Hanover 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 Hanover Park Health costs vs. Illinois
| Item | Hanover Park | Illinois |
|---|---|---|
| Optometrist | $118.27 | $125.68 |
| Doctor | $167.67 | $135.78 |
| Dentist | $128.22 | $113.29 |
Detailed Hanover Park Transportation costs vs. Illinois
| Item | Hanover Park | Illinois |
|---|---|---|
| Gasoline | $3.56 | $3.46 |
| Tire Balancing | $70.87 | $59.92 |
Detailed Hanover Park Utilities costs vs. Illinois
| Item | Hanover Park | Illinois |
|---|---|---|
| All Electricity | $148.58 | $193.99 |
| Phone | $210.03 | $192.25 |
Hanover Park SnackAbility
Cost Of Living In Cities Around Hanover Park
The cost of living varies in the cities and towns around Hanover Park. Here's a quick look at the cost of living in the most populous nearby places:
Schaumburg, IL has a cost of living index of 115, 1.1x Hanover Park.
Hoffman Estates, IL has a cost of living index of 118, 1.1x Hanover Park.
Glenview, IL has a cost of living index of 146, 1.3x Hanover Park.
| City | Population | Cost Of Living | Vs. Hanover Park |
|---|---|---|---|
| Schaumburg, IL | 76,868 | 115 | 1.1x |
| Hoffman Estates, IL | 51,175 | 118 | 1.1x |
| Glenview, IL | 47,752 | 146 | 1.3x |
| Elmhurst, IL | 45,671 | 134 | 1.2x |
| Buffalo Grove, IL | 42,891 | 126 | 1.2x |
| Bartlett, IL | 40,501 | 119 | 1.1x |
| Carol Stream, IL | 39,460 | 112 | 1.0x |
| Streamwood, IL | 39,001 | 111 | 1.0x |
| Park Ridge, IL | 38,667 | 135 | 1.2x |
| Northbrook, IL | 34,585 | 151 | 1.4x |
