University Park, IL is a vibrant city located in Cook County. The cost of living in University Park is significantly lower than the national average with the average rent for a two-bedroom apartment being $1,240 compared to the US average of $1,430. Additionally, grocery costs index in University Park is 94 versus 100 for the entire country. The city also offers plenty of job opportunities with major companies such as UPS and Hillcrest Foods having their headquarters based here. Moreover, there are lots of recreational activities one can do such as visiting the Balmoral Park Racetrack or skating at McFetridge Sports Center. In conclusion, University Park is an affordable city to live in while providing plenty of amenities to its residents.
University Park has an unemployment rate of 7.1%. The US average is 6.0%.
University Park has seen the job market decrease by -0.2% over the last year. Future job growth over the next ten years is predicted to be 27.9%, which is lower than the US average of 33.5%.
Tax Rates for University Park
- The Sales Tax Rate for University Park is 8.0%. The US average is 7.3%.
- The Income Tax Rate for University Park is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for University Park
- The average income of a University Park resident is $21,176 a year. The US average is $28,555 a year.
- The Median household income of a University Park resident is $65,924 a year. The US average is $69,021 a year.