Palatine, IL is a great city for anyone looking for a more suburban feel. There are many local businesses and amenities in town making it an ideal spot to live in. The 2 bedroom rent is around $1,600 which is slightly higher than the nationwide average of $1,430. Also, the grocery cost index in Palatine is 98 versus 100 nationwide. There are plenty of shops and restaurants to choose from such as Lou Malnati's Pizzeria, Emmett's Brewing Company, and Arnie's Bakery & Café. The city also has many parks and activities for families including the Deer Grove Forest Preserve, Cormorant Park Nature Center, and Winter Garden Park.
Palatine has an unemployment rate of 5.7%. The US average is 6.0%.
Palatine 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 26.9%, which is lower than the US average of 33.5%.
Tax Rates for Palatine
- The Sales Tax Rate for Palatine is 10.3%. The US average is 7.3%.
- The Income Tax Rate for Palatine 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 Palatine
- The average income of a Palatine resident is $35,904 a year. The US average is $28,555 a year.
- The Median household income of a Palatine resident is $86,415 a year. The US average is $69,021 a year.