Hanover Park, IL is a suburban village in Cook County located about 25 miles northwest of downtown Chicago. This family-friendly city offers plenty of amenities and local business such as retail stores like Marshall’s, Target, Starbucks, Aldi and Jewel-Osco. The average rent for a two-bedroom unit in Hanover Park is $1,610 per month which is higher than the US average of $1,430 per month. Grocery costs are slightly lower than the US with an index score of 97 versus 100 in the US. Overall Hanover Park has a moderate cost of living compared to other cities of its size.
Hanover Park has an unemployment rate of 8.9%. The US average is 6.0%.
Hanover Park has seen the job market decrease by -9.5% over the last year. Future job growth over the next ten years is predicted to be 25.3%, which is lower than the US average of 33.5%.
Tax Rates for Hanover Park
- The Sales Tax Rate for Hanover Park is 9.8%. The US average is 7.3%.
- The Income Tax Rate for Hanover 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 Hanover Park
- The average income of a Hanover Park resident is $27,901 a year. The US average is $37,638 a year.
- The Median household income of a Hanover Park resident is $80,535 a year. The US average is $69,021 a year.