salaryRent is higher than in 71% of U.S. cities. Household incomes are higher than in 85% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Most homes (87.4%) are owned, so rentals can be hard to find. It is a highly educated city: 59.2% of adults have a college degree.
How much money do I need?
To rent here comfortably, you should earn about $81,200 a year. That is $39 an hour at a full-time job.
Is rent cheaper than other Illinois cities?
No. Rent here is more expensive than in most of Illinois. It is number 275 of 334 cities from cheapest to most expensive.
How much do households earn in Grandwood Park?
Share of households by yearly income. 53.4% of households earn $100,000 or more.
Rent by apartment size in Grandwood Park
| Size | Grandwood Park | U.S. average |
|---|---|---|
| 1 bedroom | $1,514 | $1,324 |
| 3 bedrooms | $2,383 | $1,698 |
| 4 bedrooms | $1,729 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Grandwood Park overall?
Everyday prices in Illinois overall are same as the U.S. average (index 100.0, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Grandwood Park, so the Illinois figure is shown.
Taxes and bills in Grandwood Park
Life in Grandwood Park
Is it cheaper to rent or buy in Grandwood Park?
Renting is cheaper right now: about $263 a month less.
Owning assumes a typical $330,500 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $33,050 for the down payment.
Frequently asked questions
What is the average rent in Grandwood Park, IL?
Renting in Grandwood Park costs a median of about $2,030 a month in 2026, including utilities. The Illinois median is $1,517.
How much do I need to make to live in Grandwood Park?
To keep rent under 30% of income, you need about $81,200 a year, or $39 an hour at a full-time job.
Is Grandwood Park cheap or expensive?
Grandwood Park is rated Cheap: rent takes 17.8% of the typical household income of $136,685. It ranks 275th cheapest of 334 Illinois cities we track.
How much are property taxes in Grandwood Park?
The median homeowner in Grandwood Park pays $9,729 a year in property taxes, about 2.94% of the median home value.
Is Grandwood Park more expensive than the national average?
Overall prices in Illinois are same as the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Grandwood Park?
The median home value in Grandwood Park is $330,500, about 2.4 times the typical yearly household income.
5,262 people live in Grandwood Park. Numbers are typical (middle) values.