Cost of Living in University Park, IL
Population 7,109 · Illinois · Data vintage 2023
(100 = US avg)
University Park offers a notably favorable income-to-housing ratio for its region. The typical home — $138,000 — costs less than 2.1 times median household income of $65,580, a threshold many coastal markets passed a decade ago. At 16.2%, the local unemployment rate runs well above the US figure, pointing to structural rather than cyclical labor-market issues.
Geographically, University Park sits roughly 25 miles east of Joliet. Median home values run roughly 45% lower than Joliet's $249,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in University Park
The median home value in University Park is $137,800 — 55% below the national median of $305,000. Median rent runs $1,530/month, 16% higher than the national median of $1,314/month. The median household income of $65,580/year is 12% lower than the US median of $74,580. The local unemployment rate is 16.2%, 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, University Park has a cost of living index of 74 versus the US average of 100, meaning it is 26% less expensive.
University Park is a campus community
This Census-Designated Place covers the University Park campus. Students and staff typically live in surrounding communities — 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 University Park, IL?
University Park has a cost index of 74 (100 = national average). It is 26% below the national average.
What is average rent in University Park, IL?
The median gross rent in University Park is $1,530 per month based on 2023 Census data.
What is the average home price in University Park?
The median home value in University Park is $137,800 according to Zillow and Census data.
What is the median income in University Park?
The median household income in University Park is $65,580 per year (2023 ACS 5-year estimates).
What is the sales tax in University Park, IL?
The combined state and local sales tax rate in University Park is 8.7%. The Illinois state income tax top rate is 5.0%.
Is University Park, IL affordable?
Yes, University Park is generally considered affordable, with a cost of living index of 74 — about 26% below the US national average of 100.
University Park at a Glance
- Population
- 7,109
- Median Income
- $65,580
- Home Value
- $137,800
- Median Rent
- $1,530/mo
- Unemployment
- 16.2%
- Sales Tax
- 8.7%
Nearby Cities
Explore county-level cost of living data
Illinois Rankings
Similar Cost Cities
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