The village of Palos Park, IL (zip code 60464) is an affluent suburb located about 25 miles southwest of the city of Chicago. With a population of around 4,500 people, the village is home to many popular local businesses like Palos Yoga & Meditation Center and Hunters Wild Game & Seafood Grill. The median two-bedroom rent price in Palos Park is $2,170—about 50 percent higher than the US average price of $1,430. Groceries also tend to be more expensive here than in other parts of the country; the grocery cost index is 101 compared to 100 for the US average. All in all, living in Palos Park generally comes with a high cost of living when compared to most other places in America.
Palos Park (zip 60464) has an unemployment rate of 8.4%. The US average is 6.0%.
Palos Park (zip 60464) 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 (zip 60464)
- The Sales Tax Rate for Palos Park (zip 60464) is 9.0%. The US average is 7.3%.
- The Income Tax Rate for Palos Park (zip 60464) 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 (zip 60464)
- The average income of a Palos Park (zip 60464) resident is $56,828 a year. The US average is $37,638 a year.
- The Median household income of a Palos Park (zip 60464) resident is $114,766 a year. The US average is $69,021 a year.