F
97%
Overall NAT. AVG.
16%
Goods & Services NAT. AVG.
288%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Oak Park California National
Cost of living197140100
Goods & Services116111100
Groceries112112100
Health care108109100
Housing388196100
Transportation124126100
Utilities112127100

An Overview of Cost of Living in Oak Park, CA

The cost of living in Oak Park affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Oak Park is 197, which is 97% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

If you prioritize affordability when seeking a new place to live, Oak Park may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Oak Park falls into this category, which may not align with your preferences for a budget-friendly living environment.

Housing costs make up a big chunk of the cost of living in Oak Park, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 288.5% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

Goods and services make up 33% of the total cost of living index score and are a large part of your everyday expenses. These items could include things like haircuts, salons, toothpaste, shampoo, clothes, movies, bowling, gym memberships or yoga. In Oak Park, you can expect to pay 16.2% more than average for these items, making it a more expensive place to live.

The substantial and relentless rise in grocery prices definitely warrants some attention. Over the past two years, grocery expenses have escalated by more than 10%. Having said that, the situation in Oak Park is even less favorable, with grocery prices here being 12.2% higher than the national average.

Is Oak Park Affordable?

Is Oak Park an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Oak Park, the median home price is 336.8% higher than what most folks pay across the country, and monthly rent prices are 175.9% higher than the usual rates. Income levels in Oak Park come in at $137,047, which is 147.7% higher than the national average.

What Factors can Influence the Cost of Living in Oak Park?

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Oak Park, healthcare costs are 7.9% higher than the national average.

Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In Oak Park, the utilities index registers at 12.4% higher than the national average.

Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday goods and services like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Oak Park starts at 7.25% and the income tax rates start at 1%.

Where is the Data From?

The Oak Park cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Oak Park is 41% higher than the California average
  • The cost of living in Oak Park is 97% higher than the national average
  • Oak Park housing is 288% higher than the national average
  • California general sales tax is 42% higher than the national average
  • California state income tax is 61% lower than the national average

Most Affordable Places to Live in and Around Oak Park

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Compare Oak Park, CA Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$158,901$13,242$3,707$4,768
      Renters$107,000$8,917$2,497$3,210
      A good way to judge both the affordability of the housing and the cost of living in Oak Park is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Oak Park has a median income of about $158,901 for people who own homes. Based on that number, a maximum of $3,707 should be spent on expenses related to housing. Renters have a slightly different median income, which is $107,000. Based on this average, renters should spend no more than $2,497 on all rental costs if they want to maintain a non-impoverished standard of living.

      California Sales Tax

      State General Sales Tax With Max Surtax
      California 7.25% 10.5%

      California Income Tax

      State Income Tax (Low) Income Tax (High)
      California 1% 13.3%

      Goods & Services

      Item Oak Park National avg. Difference
      Haircut $24.67$24.261.7%
      Beauty Salon $49.33$45.568.3%
      Toothpaste $3.76$3.701.5%
      Shampoo $1.41$1.289.8%
      Movie $13.46$12.1311.0%
      Bowling $19.07$18.006.0%

      Groceries

      Item Oak Park National avg. Difference
      Ground Beef $6.26$5.847.2%
      Fried Chicken $2.08$1.5732.2%
      Milk $4.76$4.671.9%
      Potatoes $4.94$4.930.2%
      Pizza $16.13$12.0933.5%
      Beer $9.60$10.417.8%

      Health Care

      Item Oak Park National avg. Difference
      Optometrist $129.09$125.682.7%
      Doctor $119.86$135.7811.7%
      Dentist $108.07$113.294.6%
      Ibuprofen $10.36$10.652.7%
      Lipitor $505.41$468.607.9%

      Housing

      Item Oak Park National avg. Difference
      Home Price $806,700.00$184,700.00336.8%
      Avg. Mortgage Payment $2,799.02$2,346.6919.3%
      Apartment Rent $2,618.00$949.00175.9%

      Transportation

      Item Oak Park National avg. Difference
      Gasoline $4.47$3.4629.3%
      Tire Balancing $58.33$59.922.6%

      Utilities

      Item Oak Park National avg. Difference
      All Electricity $326.49$193.9968.3%
      Phone $182.78$192.254.9%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Fillmore, CA15,63114544.7%
      Santa Clarita, CA212,51916464.1%
      Santa Susana, CA92416868.0%
      Simi Valley, CA125,76817170.8%
      Casa Conejo, CA3,18417474.2%
      Oak Park, CA13,98719797.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Circleville, OH13,9868811.8%
      Hidalgo, TX13,9848316.9%
      Sainte-Marie, QC13,983n/a 
      Bayou Blue, LA13,997928.4%
      Guelph/Eramosa, ON13,999n/a 
      Oak Park, CA13,98719797.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.