University Park, IL Cost Of Living
Cost Of Living In University Park, IL Summary
Cost of living in University 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 University 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 University Park is 95, with 100 being the average.
The cost of living index in University Park is 0.9x lower than the national average.
University Park ranks as the #115 cheapest in Illinois out of 336.
University Park ranks as the #1,954 cheapest out of 6,489 in the US.
The median home value in University Park is $189,082.
The median income in University Park is $65,580.
Table Of Contents
University Park's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in University Park, IL?
According to the most recent data on the cost of living, University Park has an overall cost of living index of 95, which is 0.9x lower than the national index of 100.
Compared to Illinois, University Park has a cost of living index that's 1.0x lower than Illinois's index of 97.
The standard of living in University Park ranks as #115 most affordable out of the 336 places we measured in Illinois. By definition, that implies University Park ranks as the #221 most expensive place in the Prairie State.
For more reading on life in University Park, check out:
In Illinois
In America
University Park Cost Of Living Vs. Illinois
Six factors go into calculating the cost of living index in University Park. Here is how it fairs on each of the criteria:
The Services index in University Park is 107.
The Groceries index in University Park is 98.
The Health index in University Park is 99.
The Housing index in University Park is 78.
The Transportation index in University Park is 115.
The Utilities index in University Park is 78.
| Living Expense | University Park | Illinois | National Average | |
|---|---|---|---|---|
| Overall | 95 | 97 | 100 | |
| Services | 107 | 95 | 100 | |
| Groceries | 98 | 99 | 100 | |
| Health | 99 | 93 | 100 | |
| Housing | 78 | 95 | 100 | |
| Transportation | 115 | 102 | 100 | |
| Utilities | 78 | 91 | 100 | |
University 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 University Park is $189,082.
The Median Rent in University Park is $1,530.
The Median Income in University Park is $65,580.
The Home Value To Income in University Park is 2.9x.
The Rent To Monthly Income in University Park is 0.28x.
| Statistic | University Park | Illinois | United States |
|---|---|---|---|
| Median Home Value | $189,082 | $283,508 | $303,400 |
| Median Rent | $1,530 | $1,227 | $1,348 |
| Median Income | $65,580 | $81,702 | $78,538 |
| Home Value To Income | 2.9x | 3.5x | 3.9x |
| Rent To Monthly Income | 0.28x | 0.18x | 0.21x |
Median Home Value
Median Rent
Median Income
University Park, IL Costs By Category
Detailed University Park Services Costs Vs. Illinois
| Item | University Park | Illinois |
|---|---|---|
| Shampoo | $1.32 | $1.28 |
| Movie | $9.99 | $12.13 |
| Bowling | $16.0 | $18 |
| Haircut | $19.72 | $24.26 |
| Beauty Salon | $37.22 | $45.56 |
Detailed University Park Groceries Costs Vs. Illinois
| Item | University Park | Illinois |
|---|---|---|
| Ground Beef | $5.94 | $5.84 |
| Fried Chicken | $1.39 | $1.57 |
| Milk | $4.55 | $4.67 |
| Potatoes | $5.08 | $4.93 |
| Pizza | $10.69 | $12.09 |
| Beer | $9.61 | $10.41 |
| Toothpaste | $3.72 | $3.7 |
Detailed University Park Health Costs Vs. Illinois
| Item | University Park | Illinois |
|---|---|---|
| Optometrist | $86.67 | $125.68 |
| Doctor | $110.0 | $135.78 |
| Dentist | $82.0 | $113.29 |
Detailed University Park Transportation Costs Vs. Illinois
| Item | University Park | Illinois |
|---|---|---|
| Gasoline | $3.52 | $3.46 |
| Tire Balancing | $45.0 | $59.92 |
Detailed University Park Utilities Costs Vs. Illinois
| Item | University Park | Illinois |
|---|---|---|
| All Electricity | $156.87 | $193.99 |
| Phone | $198.03 | $192.25 |
University Park SnackAbility
/10
Cost Of Living In Cities Around University Park
The cost of living varies in the cities and towns around University Park. Here's a quick look at the cost of living in the most populous nearby places:
Orland Park, IL has a cost of living index of 113, 1.2x University Park.
Tinley Park, IL has a cost of living index of 109, 1.1x University Park.
Chicago Heights, IL has a cost of living index of 91, 1.0x University Park.
| City | Population | Cost Of Living | Vs. University Park |
|---|---|---|---|
| Orland Park, IL | 57,961 | 113 | 1.2x |
| Tinley Park, IL | 55,007 | 109 | 1.1x |
| Chicago Heights, IL | 26,938 | 91 | 1.0x |
| Oak Forest, IL | 26,888 | 105 | 1.1x |
| Homer Glen, IL | 24,516 | 119 | 1.3x |
| Park Forest, IL | 20,898 | 91 | 1.0x |
| Mokena, IL | 19,906 | 118 | 1.2x |
| Matteson, IL | 18,681 | 104 | 1.1x |
| Palos Hills, IL | 18,139 | 106 | 1.1x |
| Richton Park, IL | 12,576 | 100 | 1.1x |
