Melrose Park, IL Cost Of Living
Cost Of Living In Melrose Park, IL Summary
Cost of living in Melrose 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 Melrose 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 Melrose Park is 108, with 100 being the average.
The cost of living index in Melrose Park is 1.1x higher than the national average.
Melrose Park ranks as the #201 cheapest in Illinois out of 336.
Melrose Park ranks as the #3,467 cheapest out of 6,489 in the US.
The median home value in Melrose Park is $303,943.
The median income in Melrose Park is $64,740.
Table Of Contents
Melrose Park's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Melrose Park, IL?
According to the most recent data on the cost of living, Melrose Park has an overall cost of living index of 108, which is 1.1x higher than the national index of 100.
Compared to Illinois, Melrose Park has a cost of living index that's 1.1x higher than Illinois's index of 97.
The standard of living in Melrose Park ranks as #201 most affordable out of the 336 places we measured in Illinois. By definition, that implies Melrose Park ranks as the #135 most expensive place in the Prairie State.
For more reading on life in Melrose Park, check out:
In Illinois
In America
Melrose Park Cost Of Living Vs. Illinois
Six factors go into calculating the cost of living index in Melrose Park. Here is how it fairs on each of the criteria:
The Services index in Melrose Park is 108.
The Groceries index in Melrose Park is 106.
The Health index in Melrose Park is 110.
The Housing index in Melrose Park is 109.
The Transportation index in Melrose Park is 107.
The Utilities index in Melrose Park is 89.
| Living Expense | Melrose Park | Illinois | National Average | |
|---|---|---|---|---|
| Overall | 108 | 97 | 100 | |
| Services | 108 | 95 | 100 | |
| Groceries | 106 | 99 | 100 | |
| Health | 110 | 93 | 100 | |
| Housing | 109 | 95 | 100 | |
| Transportation | 107 | 102 | 100 | |
| Utilities | 89 | 91 | 100 | |
Melrose 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 Melrose Park is $303,943.
The Median Rent in Melrose Park is $1,194.
The Median Income in Melrose Park is $64,740.
The Home Value To Income in Melrose Park is 4.7x.
The Rent To Monthly Income in Melrose Park is 0.22x.
| Statistic | Melrose Park | Illinois | United States |
|---|---|---|---|
| Median Home Value | $303,943 | $283,508 | $303,400 |
| Median Rent | $1,194 | $1,227 | $1,348 |
| Median Income | $64,740 | $81,702 | $78,538 |
| Home Value To Income | 4.7x | 3.5x | 3.9x |
| Rent To Monthly Income | 0.22x | 0.18x | 0.21x |
Median Home Value
Median Rent
Median Income
Melrose Park, IL Costs By Category
Detailed Melrose Park Services Costs Vs. Illinois
| Item | Melrose 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 Melrose Park Groceries Costs Vs. Illinois
| Item | Melrose 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 Melrose Park Health Costs Vs. Illinois
| Item | Melrose Park | Illinois |
|---|---|---|
| Optometrist | $118.27 | $125.68 |
| Doctor | $167.67 | $135.78 |
| Dentist | $128.22 | $113.29 |
Detailed Melrose Park Transportation Costs Vs. Illinois
| Item | Melrose Park | Illinois |
|---|---|---|
| Gasoline | $3.56 | $3.46 |
| Tire Balancing | $70.87 | $59.92 |
Detailed Melrose Park Utilities Costs Vs. Illinois
| Item | Melrose Park | Illinois |
|---|---|---|
| All Electricity | $148.58 | $193.99 |
| Phone | $210.03 | $192.25 |
Melrose Park SnackAbility
/10
Cost Of Living In Cities Around Melrose Park
The cost of living varies in the cities and towns around Melrose Park. Here's a quick look at the cost of living in the most populous nearby places:
Glenview, IL has a cost of living index of 149, 1.4x Melrose Park.
Elmhurst, IL has a cost of living index of 139, 1.3x Melrose Park.
Buffalo Grove, IL has a cost of living index of 125, 1.2x Melrose Park.
| City | Population | Cost Of Living | Vs. Melrose Park |
|---|---|---|---|
| Glenview, IL | 47,682 | 149 | 1.4x |
| Elmhurst, IL | 45,538 | 139 | 1.3x |
| Buffalo Grove, IL | 42,824 | 125 | 1.2x |
| Park Ridge, IL | 39,241 | 138 | 1.3x |
| Northbrook, IL | 34,642 | 153 | 1.4x |
| Highland Park, IL | 30,229 | 148 | 1.4x |
| Wilmette, IL | 27,550 | 164 | 1.5x |
| Elmwood Park, IL | 23,982 | 113 | 1.0x |
| Maywood, IL | 23,173 | 99 | 0.9x |
| Deerfield, IL | 19,185 | 148 | 1.4x |
