Park Ridge, IL Cost Of Living
Cost Of Living In Park Ridge, IL Summary
Cost of living in Park Ridge 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 Park Ridge 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 Park Ridge is 138, with 100 being the average.
The cost of living index in Park Ridge is 1.4x higher than the national average.
Park Ridge ranks as the #311 cheapest in Illinois out of 336.
Park Ridge ranks as the #5,329 cheapest out of 6,489 in the US.
The median home value in Park Ridge is $552,874.
The median income in Park Ridge is $138,059.
Table Of Contents
Park Ridge's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Park Ridge, IL?
According to the most recent data on the cost of living, Park Ridge has an overall cost of living index of 138, which is 1.4x higher than the national index of 100.
Compared to Illinois, Park Ridge has a cost of living index that's 1.4x higher than Illinois's index of 97.
The standard of living in Park Ridge ranks as #311 most affordable out of the 336 places we measured in Illinois. By definition, that implies Park Ridge ranks as the #25 most expensive place in the Prairie State.
For more reading on life in Park Ridge, check out:
In Illinois
In America
Park Ridge Cost Of Living Vs. Illinois
Six factors go into calculating the cost of living index in Park Ridge. Here is how it fairs on each of the criteria:
The Services index in Park Ridge is 108.
The Groceries index in Park Ridge is 105.
The Health index in Park Ridge is 109.
The Housing index in Park Ridge is 215.
The Transportation index in Park Ridge is 109.
The Utilities index in Park Ridge is 88.
| Living Expense | Park Ridge | Illinois | National Average | |
|---|---|---|---|---|
| Overall | 138 | 97 | 100 | |
| Services | 108 | 95 | 100 | |
| Groceries | 105 | 99 | 100 | |
| Health | 109 | 93 | 100 | |
| Housing | 215 | 95 | 100 | |
| Transportation | 109 | 102 | 100 | |
| Utilities | 88 | 91 | 100 | |
Park Ridge, 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 Park Ridge is $552,874.
The Median Rent in Park Ridge is $1,511.
The Median Income in Park Ridge is $138,059.
The Home Value To Income in Park Ridge is 4.0x.
The Rent To Monthly Income in Park Ridge is 0.13x.
| Statistic | Park Ridge | Illinois | United States |
|---|---|---|---|
| Median Home Value | $552,874 | $283,508 | $303,400 |
| Median Rent | $1,511 | $1,227 | $1,348 |
| Median Income | $138,059 | $81,702 | $78,538 |
| Home Value To Income | 4.0x | 3.5x | 3.9x |
| Rent To Monthly Income | 0.13x | 0.18x | 0.21x |
Median Home Value
Median Rent
Median Income
Park Ridge, IL Costs By Category
Detailed Park Ridge Services Costs Vs. Illinois
| Item | Park Ridge | 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 Park Ridge Groceries Costs Vs. Illinois
| Item | Park Ridge | 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 Park Ridge Health Costs Vs. Illinois
| Item | Park Ridge | Illinois |
|---|---|---|
| Optometrist | $118.27 | $125.68 |
| Doctor | $167.67 | $135.78 |
| Dentist | $128.22 | $113.29 |
Detailed Park Ridge Transportation Costs Vs. Illinois
| Item | Park Ridge | Illinois |
|---|---|---|
| Gasoline | $3.56 | $3.46 |
| Tire Balancing | $70.87 | $59.92 |
Detailed Park Ridge Utilities Costs Vs. Illinois
| Item | Park Ridge | Illinois |
|---|---|---|
| All Electricity | $148.58 | $193.99 |
| Phone | $210.03 | $192.25 |
Park Ridge SnackAbility
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Cost Of Living In Cities Around Park Ridge
The cost of living varies in the cities and towns around Park Ridge. Here's a quick look at the cost of living in the most populous nearby places:
Des Plaines, IL has a cost of living index of 113, 0.8x Park Ridge.
Glenview, IL has a cost of living index of 149, 1.1x Park Ridge.
Elmhurst, IL has a cost of living index of 139, 1.0x Park Ridge.
| City | Population | Cost Of Living | Vs. Park Ridge |
|---|---|---|---|
| Des Plaines, IL | 59,408 | 113 | 0.8x |
| Glenview, IL | 47,682 | 149 | 1.1x |
| Elmhurst, IL | 45,538 | 139 | 1.0x |
| Buffalo Grove, IL | 42,824 | 125 | 0.9x |
| Northbrook, IL | 34,642 | 153 | 1.1x |
| Niles, IL | 30,262 | 117 | 0.8x |
| Highland Park, IL | 30,229 | 148 | 1.1x |
| Wilmette, IL | 27,550 | 164 | 1.2x |
| Morton Grove, IL | 24,687 | 129 | 0.9x |
| Deerfield, IL | 19,185 | 148 | 1.1x |
