Cost of Living in Park ridge, IL
Housing
The housing market plays a significant role in determining the cost of living in Park ridge, IL.
- Housing Index: 101.8 / 100
- Median Home Price is: $420,000
- Average Rent (2 BR Apartment): $2440 per month
- Average Rent (2 BR House): $2652 per month
When considering a move to Park ridge, IL, it's important to note that the housing index stands at 101.8, suggesting that housing costs are slightly higher than the national average. The current median home price is 420000, indicating a robust market that may require careful budget planning. With average rents at 2440 for a 2-bedroom apartment and 2652 for a 2-bedroom house, potential renters should also factor in these costs when deciding on whether to buy or rent. Overall, research other local amenities and job opportunities to ensure a well-rounded decision.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Park ridge, IL.
- Electricity Price: $16.15 USD (median by state)
- Natural Gas Price: $16.59 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $244 per month
Living in Park ridge, IL could entail higher utility costs. Electricity costs sit at $16.15, while natural gas is priced at $16.59 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $244 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Park ridge is a financially viable option for your relocation.