salaryRent is lower than in 51% of U.S. cities. Household incomes are higher than in 91% of U.S. cities. A typical house costs about 3.6 years of household income. Most homes (84.8%) are owned, so rentals can be hard to find. It is a highly educated city: 66.1% of adults have a college degree.
How much money do I need?
To rent here comfortably, you should earn about $65,160 a year. That is $31 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 190 of 334 cities from cheapest to most expensive.
How much do households earn in Park Ridge?
Share of households by yearly income. 54.1% of households earn $100,000 or more.
Rent by apartment size in Park Ridge
| Size | Park Ridge | U.S. average |
|---|---|---|
| Studio | $1,334 | $1,338 |
| 1 bedroom | $1,376 | $1,324 |
| 2 bedrooms | $1,754 | $1,509 |
| 3 bedrooms | $2,402 | $1,698 |
| 4 bedrooms | $3,147 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Park Ridge 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 Park Ridge, so the Illinois figure is shown.
Taxes and bills in Park Ridge
Life in Park Ridge
Is it cheaper to rent or buy in Park Ridge?
Renting is cheaper right now: about $2,196 a month less.
Owning assumes a typical $551,200 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $55,120 for the down payment.
Frequently asked questions
What is the average rent in Park Ridge, IL?
Renting in Park Ridge costs a median of about $1,629 a month in 2026, including utilities. The Illinois median is $1,517.
How much do I need to make to live in Park Ridge?
To keep rent under 30% of income, you need about $65,160 a year, or $31 an hour at a full-time job.
Is Park Ridge cheap or expensive?
Park Ridge is rated Cheap: rent takes 12.7% of the typical household income of $154,210. It ranks 190th cheapest of 334 Illinois cities we track.
How much are property taxes in Park Ridge?
The median homeowner in Park Ridge pays $10,000+ a year in property taxes, about 1.81% of the median home value.
Is Park Ridge 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 Park Ridge?
The median home value in Park Ridge is $551,200, about 3.6 times the typical yearly household income.
38,667 people live in Park Ridge. Numbers are typical (middle) values.