Chatham, IL vs Grandwood Park, IL

There is a significant gap in the cost of living between these two cities. Chatham is 26% cheaper than Grandwood Park. With a cost index of 86 vs 116, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Chatham to Grandwood Park should plan for substantially higher expenses across most categories.

On the housing front, median rent in Chatham is $1,157/month compared to $1,797/month in Grandwood Park — a 36% difference. Home values follow the same pattern: Chatham is more affordable at $231,900 median vs $313,000.

Median household income in Chatham is $106,030 compared to $124,847 in Grandwood Park (-15.1%). The higher salaries in Grandwood Park partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of Chatham spend roughly 13.1% of their income on rent, less than the 17.3% in Grandwood Park.