Berwyn, IL vs Homewood, IL

Berwyn, IL and Homewood, IL have a very similar cost of living, with only a 1.4% difference in their overall index. Berwyn scores 95 while Homewood scores 96 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Berwyn is $1,175/month compared to $1,422/month in Homewood — a 17% difference. Interestingly, home values tell a different story: while Berwyn has cheaper rent, Homewood actually has lower median home values ($210,500 vs $286,000).

Median household income in Berwyn is $75,235 compared to $96,522 in Homewood (-22.1%). While Homewood is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Berwyn spend roughly 18.7% of their income on rent, more than the 17.7% in Homewood.