Palatine, IL Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

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

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
117
Palatine's Overall Cost Of Living
1.2x
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:

281 out of 338
In Illinois
4,628 out of 6,412
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
For more reading on cost of living around Illinois, check out:
Palatine Cost of Living Vs. IL

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
Search Homes For Sale In Palatine, IL
$296,100
Median Home Value
$1,328
Median Rent
$86,415
Median Income

Palatine, IL Costs By Category

Detailed Palatine Services Costs Vs. Illinois

Item Palatine 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 Palatine Groceries Costs Vs. Illinois

Item Palatine 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 Palatine Health Costs Vs. Illinois

Item Palatine Illinois
Optometrist $96.76 $108.57
Doctor $104.96 $116.17
Dentist $101.82 $99.13

Detailed Palatine Transportation Costs Vs. Illinois

Item Palatine Illinois
Gasoline $2.51 $2.22
Tire Balancing $56.85 $50.07

Detailed Palatine Utilities Costs Vs. Illinois

Item Palatine Illinois
All Electricity $131.89 $167.67
Phone $203.16 $175.64

Palatine SnackAbility

9
/10
Overall SnackAbility
Jobs
8/10
Housing
8.5
Affordability
7
Diversity
9
Safety
9.5
Amenities
9.5
Education
8
Commute
5

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

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