C-
6%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
12%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Palos Hills Illinois National
Cost of living10696100
Goods & Services10797100
Groceries10498100
Health care10895100
Housing11295100
Transportation107103100
Utilities8989100

An Overview of Cost of Living in Palos Hills, IL

Are you thinking about relocating, but curious about the potential cost of living in Palos Hills? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Palos Hills stands at 106, making it 6% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

Everyday expenditures like food, housing, goods and services, transportation and health care in Palos Hills are priced in a manner consistent with other areas. This means that residents of Palos Hills can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.

Is Palos Hills Affordable?

Is Palos Hills an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Palos Hills is 11.3% higher than the national average, while the average monthly rent prices are 13.1% higher than average. The affordability of any location can also be influenced by median income levels. Palos Hills has a median household income of $64,364, which is 16.3% higher than the national average.

What Factors can Influence the Cost of Living in Palos Hills?

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Palos Hills, the transportation index is 7.2% higher than the national average.

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Palos Hills, healthcare costs are 7.7% higher than the national average.

Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Palos Hills, the groceries index is 3.5% higher than the national average.

Where is the Data From?

The Palos Hills cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Palos Hills is 10% higher than the Illinois average
  • The cost of living in Palos Hills is 6% higher than the national average
  • Palos Hills housing is 12% higher than the national average
  • Illinois general sales tax is 22% higher than the national average
  • Illinois state income tax is 91% higher than the national average

Most Affordable Places to Live in and Around Palos Hills

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Compare Palos Hills, IL Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$70,313$5,859$1,641$2,110
      Renters$50,469$4,206$1,178$1,514
      A good indicator of the general affordability of housing in Palos Hills, IL, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Palos Hills, the median monthly income is $70,313 for those who own their own homes. Under the standard rule, that income level would allow for $1,641 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $50,469, per the median income in the area. That would allow for renters to spend up to $1,178 on monthly rental expenses.

      Illinois Sales Tax

      State General Sales Tax With Max Surtax
      Illinois 6.25% 10.25%

      Illinois Income Tax

      State Income Tax (Low) Income Tax (High)
      Illinois 4.95% 4.95%

      Goods & Services

      Item Palos Hills National avg. Difference
      Haircut $33.69$24.2638.9%
      Beauty Salon $53.44$45.5617.3%
      Toothpaste $3.75$3.701.4%
      Shampoo $1.27$1.281.1%
      Movie $17.91$12.1347.6%
      Bowling $24.58$18.0036.6%

      Groceries

      Item Palos Hills National avg. Difference
      Ground Beef $5.28$5.849.5%
      Fried Chicken $1.42$1.579.7%
      Milk $4.87$4.674.3%
      Potatoes $4.90$4.930.7%
      Pizza $13.41$12.0910.9%
      Beer $10.00$10.414.0%

      Health Care

      Item Palos Hills National avg. Difference
      Optometrist $118.27$125.685.9%
      Doctor $167.67$135.7823.5%
      Dentist $128.22$113.2913.2%
      Ibuprofen $10.97$10.652.9%
      Lipitor $382.34$468.6018.4%

      Housing

      Item Palos Hills National avg. Difference
      Home Price $205,600.00$184,700.0011.3%
      Avg. Mortgage Payment $2,578.06$2,346.699.9%
      Apartment Rent $1,073.00$949.0013.1%

      Transportation

      Item Palos Hills National avg. Difference
      Gasoline $3.56$3.462.7%
      Tire Balancing $70.87$59.9218.3%

      Utilities

      Item Palos Hills National avg. Difference
      All Electricity $148.58$193.9923.4%
      Phone $210.03$192.259.3%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Hodgkins, IL1,7538514.6%
      Ford Heights, IL2,7058614.2%
      Phoenix, IL1,4028812.0%
      Dixmoor, IL3,5709010.2%
      Harvey, IL24,2959010.1%
      Palos Hills, IL17,1721066.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Avenel, NJ17,17512019.7%
      Vero Beach, FL17,1631087.5%
      Sevierville, TN17,185963.6%
      Tifton, GA17,1898713.3%
      Massapequa Park, NY17,15215958.6%
      Palos Hills, IL17,1721066.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.