Franklin Park, IL Cost Of Living
Cost Of Living In Franklin Park, IL Summary
Cost of living in Franklin 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 Franklin 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 Franklin Park is 105, with 100 being the average.
The cost of living index in Franklin Park is 1.1x higher than the national average.
Franklin Park ranks as the #204 cheapest in Illinois out of 338.
Franklin Park ranks as the #3,676 cheapest out of 6,412 in the US.
The median home value in Franklin Park is $220,800.
The median income in Franklin Park is $70,221.
Table Of Contents
Franklin Park's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Franklin Park, IL?
According to the most recent data on the cost of living, Franklin Park has an overall cost of living index of 105, which is 1.1x higher than the national index of 100.
Compared to Illinois, Franklin Park has a cost of living index that's 1.1x higher than Illinois's index of 92.
The standard of living in Franklin Park ranks as #204 most affordable out of the 338 places we measured in Illinois. By definition, that implies Franklin Park ranks as the #134 most expensive place in the Prairie State.
For more reading on life in Franklin Park, check out:
- Living In Franklin Park
- Franklin Park Crime Report
- Search Homes For Sale In Franklin Park, IL
In Illinois
In America
Franklin Park Cost Of Living Vs. Illinois
Six factors go into calculating the cost of living index in Franklin Park. Here is how it fairs on each of the criteria:
The Services index in Franklin Park is 116.
The Groceries index in Franklin Park is 105.
The Health index in Franklin Park is 99.
The Housing index in Franklin Park is 89.
The Transportation index in Franklin Park is 114.
The Utilities index in Franklin Park is 95.
| Living Expense | Franklin Park | Illinois | National Average | |
|---|---|---|---|---|
| Overall | 105 | 92 | 100 | |
| Services | 116 | 95 | 100 | |
| Groceries | 105 | 98 | 100 | |
| Health | 99 | 96 | 100 | |
| Housing | 89 | 81 | 100 | |
| Transportation | 114 | 105 | 100 | |
| Utilities | 95 | 90 | 100 | |
Franklin 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 2017-2021. The key points are:
The Median Home Value in Franklin Park is $220,800.
The Median Rent in Franklin Park is $1,044.
The Median Income in Franklin Park is $70,221.
The Home Value To Income in Franklin Park is 3.1x.
The Rent To Monthly Income in Franklin Park is 0.18x.
| Statistic | Franklin Park | Illinois | United States |
|---|---|---|---|
| Median Home Value | $220,800 | $212,600 | $244,900 |
| Median Rent | $1,044 | $1,097 | $1,163 |
| Median Income | $70,221 | $72,563 | $69,021 |
| Home Value To Income | 3.1x | 2.9x | 3.5x |
| Rent To Monthly Income | 0.18x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Franklin Park, IL Costs By Category
Detailed Franklin Park Services Costs Vs. Illinois
| Item | Franklin Park | Illinois |
|---|---|---|
| Shampoo | $1.06 | $1.06 |
| Movie | $14.85 | $10.68 |
| Bowling | $15.76 | $14.67 |
| Haircut | $27.76 | $18.62 |
| Beauty Salon | $65.57 | $39.05 |
Detailed Franklin Park Groceries Costs Vs. Illinois
| Item | Franklin Park | Illinois |
|---|---|---|
| Ground Beef | $4.87 | $4.22 |
| Fried Chicken | $1.99 | $1.39 |
| Milk | $2.42 | $2.05 |
| Potatoes | $3.23 | $3.29 |
| Pizza | $12.0 | $10.62 |
| Beer | $8.61 | $9.38 |
| Toothpaste | $2.46 | $2.34 |
Detailed Franklin Park Health Costs Vs. Illinois
| Item | Franklin Park | Illinois |
|---|---|---|
| Optometrist | $96.76 | $108.57 |
| Doctor | $104.96 | $116.17 |
| Dentist | $101.82 | $99.13 |
Detailed Franklin Park Transportation Costs Vs. Illinois
| Item | Franklin Park | Illinois |
|---|---|---|
| Gasoline | $2.51 | $2.22 |
| Tire Balancing | $56.85 | $50.07 |
Detailed Franklin Park Utilities Costs Vs. Illinois
| Item | Franklin Park | Illinois |
|---|---|---|
| All Electricity | $131.89 | $167.67 |
| Phone | $203.16 | $175.64 |
Franklin Park SnackAbility
/10
Cost Of Living In Cities Around Franklin Park
The cost of living varies in the cities and towns around Franklin Park. Here's a quick look at the cost of living in the most populous nearby places:
Glenview, IL has a cost of living index of 147, 1.4x Franklin Park.
Elmhurst, IL has a cost of living index of 131, 1.2x Franklin Park.
Buffalo Grove, IL has a cost of living index of 121, 1.2x Franklin Park.
| City | Population | Cost Of Living | Vs. Franklin Park |
|---|---|---|---|
| Glenview, IL | 48,150 | 147 | 1.4x |
| Elmhurst, IL | 45,661 | 131 | 1.2x |
| Buffalo Grove, IL | 43,062 | 121 | 1.2x |
| Park Ridge, IL | 39,562 | 131 | 1.2x |
| Northbrook, IL | 35,108 | 156 | 1.5x |
| Highland Park, IL | 30,245 | 152 | 1.4x |
| Wilmette, IL | 27,895 | 166 | 1.6x |
| Melrose Park, IL | 25,417 | 105 | 1.0x |
| Elmwood Park, IL | 24,517 | 112 | 1.1x |
| Deerfield, IL | 19,228 | 150 | 1.4x |
