Cost of Living in Palos Park, IL
Population 4,832 · Illinois · Data vintage 2023
(100 = US avg)
With a median age of 61, Palos Park functions largely as a retirement market. Housing costs — $470,000 for a typical home — anchor most household budgets, and the state's treatment of pension income tends to matter more than wage-driven tax comparisons.
Located 14 miles southwest of Chicago, Palos Park falls within that metro's commuting orbit. Median home values run roughly 49% higher than Chicago's $315,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Palos Park
The median home value in Palos Park is $469,900 — 54% above the national median of $305,000. The median household income of $126,263/year is 69% higher than the US median of $74,580. The local unemployment rate is 4.8%, above 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, Palos Park has a cost of living index of 154 versus the US average of 100, meaning it is 54% more expensive.
Palos 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
🛒 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 Palos Park, IL?
Palos Park has a cost index of 154 (100 = national average). It is 54% above the national average.
What is the average home price in Palos Park?
The median home value in Palos Park is $469,900 according to Zillow and Census data.
What is the median income in Palos Park?
The median household income in Palos Park is $126,263 per year (2023 ACS 5-year estimates).
What is the sales tax in Palos Park, IL?
The combined state and local sales tax rate in Palos Park is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Palos Park, IL affordable?
Palos Park is above average in cost of living, with an index of 154 — about 54% higher than the national average.
Palos Park at a Glance
- Population
- 4,832
- Median Income
- $126,263
- Home Value
- $469,900
- Unemployment
- 4.8%
- Sales Tax
- 8.7%
Nearby Cities
Explore county-level cost of living data
Illinois Rankings
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