Cost of Living in Grandwood Park, IL
Population 5,311 · Illinois · Data vintage 2023
(100 = US avg)
Under 25,000 residents gives Grandwood Park a small-town character that shows up in every data point below — from the commute patterns to the rental inventory. A typical home runs $313,000. The labor market has been unusually tight, with unemployment around 2.0% — below most comparable cities in the state.
Geographically, Grandwood Park is about 30 miles northeast of Elgin, the nearest large metro. Median home values run roughly 24% higher than Elgin's $252,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Grandwood Park
The median home value in Grandwood Park is $313,000 — 3% above the national median of $305,000. Median rent runs $1,797/month, 37% higher than the national median of $1,314/month. The median household income of $124,847/year is 67% higher than the US median of $74,580. The local unemployment rate is 2.0%, below the national average of 4.8%. Illinois's top state income tax rate is 5.0% and the combined sales tax is 8.7%. Overall, Grandwood Park has a cost of living index of 116 versus the US average of 100, meaning it is 16% more expensive.
Grandwood Park has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Grandwood Park, IL?
Grandwood Park has a cost index of 116 (100 = national average). It is 16% above the national average.
What is average rent in Grandwood Park, IL?
The median gross rent in Grandwood Park is $1,797 per month based on 2023 Census data.
What is the average home price in Grandwood Park?
The median home value in Grandwood Park is $313,000 according to 2023 Census ACS data.
What is the median income in Grandwood Park?
The median household income in Grandwood Park is $124,847 per year (2023 ACS 5-year estimates).
What is the sales tax in Grandwood Park, IL?
The combined state and local sales tax rate in Grandwood Park is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Grandwood Park, IL affordable?
Grandwood Park is above average in cost of living, with an index of 116 — about 16% higher than the national average.
Grandwood Park at a Glance
- Population
- 5,311
- Median Income
- $124,847
- Home Value
- $313,000
- Median Rent
- $1,797/mo
- Unemployment
- 2.0%
- Sales Tax
- 8.7%
Nearby Cities
Explore county-level cost of living data
Illinois Rankings
Similar Cost Cities
Cities in other states with comparable housing costs