Palatine, IL Cost Of Living
Cost Of Living In Palatine, IL Summary
Cost of living in Palatine 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 Palatine 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 Palatine is 117, with 100 being the average.
The cost of living index in Palatine is 1.2x higher than the national average.
Palatine ranks as the #281 cheapest in Illinois out of 338.
Palatine ranks as the #4,628 cheapest out of 6,412 in the US.
The median home value in Palatine is $296,100.
The median income in Palatine is $86,415.
Table Of Contents
Palatine's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Palatine, IL?
According to the most recent data on the cost of living, Palatine has an overall cost of living index of 117, which is 1.2x higher than the national index of 100.
Compared to Illinois, Palatine has a cost of living index that's 1.3x higher than Illinois's index of 92.
The standard of living in Palatine ranks as #281 most affordable out of the 338 places we measured in Illinois. By definition, that implies Palatine ranks as the #57 most expensive place in the Prairie State.
For more reading on life in Palatine, check out:
- Living In Palatine
- Palatine Crime Report
- Search Homes For Sale In Palatine, IL
In Illinois
In America
Palatine Cost Of Living Vs. Illinois
Six factors go into calculating the cost of living index in Palatine. Here is how it fairs on each of the criteria:
The Services index in Palatine is 114.
The Groceries index in Palatine is 108.
The Health index in Palatine is 99.
The Housing index in Palatine is 139.
The Transportation index in Palatine is 115.
The Utilities index in Palatine is 93.
| Living Expense | Palatine | Illinois | National Average | |
|---|---|---|---|---|
| Overall | 117 | 92 | 100 | |
| Services | 114 | 95 | 100 | |
| Groceries | 108 | 98 | 100 | |
| Health | 99 | 96 | 100 | |
| Housing | 139 | 81 | 100 | |
| Transportation | 115 | 105 | 100 | |
| Utilities | 93 | 90 | 100 | |
Palatine, 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 Palatine is $296,100.
The Median Rent in Palatine is $1,328.
The Median Income in Palatine is $86,415.
The Home Value To Income in Palatine is 3.4x.
The Rent To Monthly Income in Palatine is 0.18x.
| Statistic | Palatine | Illinois | United States |
|---|---|---|---|
| Median Home Value | $296,100 | $212,600 | $244,900 |
| Median Rent | $1,328 | $1,097 | $1,163 |
| Median Income | $86,415 | $72,563 | $69,021 |
| Home Value To Income | 3.4x | 2.9x | 3.5x |
| Rent To Monthly Income | 0.18x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Palatine, IL Costs By Category
Detailed Palatine Services Costs Vs. Illinois
Detailed Palatine Groceries Costs Vs. Illinois
Detailed Palatine Health Costs Vs. Illinois
Detailed Palatine Transportation Costs Vs. Illinois
Detailed Palatine Utilities Costs Vs. Illinois
Palatine SnackAbility
/10
Cost Of Living In Cities Around Palatine
The cost of living varies in the cities and towns around Palatine. Here's a quick look at the cost of living in the most populous nearby places:
Arlington Heights, IL has a cost of living index of 125, 1.1x Palatine.
Glenview, IL has a cost of living index of 147, 1.3x Palatine.
Elmhurst, IL has a cost of living index of 131, 1.1x Palatine.
| City | Population | Cost Of Living | Vs. Palatine |
|---|---|---|---|
| Arlington Heights, IL | 77,283 | 125 | 1.1x |
| Glenview, IL | 48,150 | 147 | 1.3x |
| Elmhurst, IL | 45,661 | 131 | 1.1x |
| Buffalo Grove, IL | 43,062 | 121 | 1.0x |
| Park Ridge, IL | 39,562 | 131 | 1.1x |
| Northbrook, IL | 35,108 | 156 | 1.3x |
| Highland Park, IL | 30,245 | 152 | 1.3x |
| Wilmette, IL | 27,895 | 166 | 1.4x |
| Rolling Meadows, IL | 24,300 | 114 | 1.0x |
| Lake Zurich, IL | 19,807 | 125 | 1.1x |
