Palos Park, IL is a small village located in the southwestern part of Cook County. It is known for its quiet neighborhoods, lush forests, and beautiful parks. Local companies include Palos Community Hospital, which provides quality healthcare services to the community; Palos Heights Bank & Trust which offers banking services; and Prime Care Emergency Physicians which specializes in providing medical care to residents. The cost of living in Palos Park is slightly higher than the national average as the median two-bedroom rent is around $2140 and the Grocery Cost Index is 101 versus 100 in the US. However, many residents still find that life in Palos Park is comfortable due to its safe environment and excellent recreational activities.
Palos Park has an unemployment rate of 8.4%. The US average is 6.0%.
Palos 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 25.8%, which is lower than the US average of 33.5%.
Tax Rates for Palos Park
- The Sales Tax Rate for Palos Park is 10.3%. The US average is 7.3%.
- The Income Tax Rate for Palos 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 Palos Park
- The average income of a Palos Park resident is $48,766 a year. The US average is $28,555 a year.
- The Median household income of a Palos Park resident is $122,676 a year. The US average is $69,021 a year.