Chestnut Hill, PA vs Melrose Park, PA

Chestnut Hill, PA and Melrose Park, PA have a very similar cost of living, with only a 1.3% difference in their overall index. Chestnut Hill scores 117 while Melrose Park scores 119 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 Chestnut Hill is $1,746/month compared to $1,661/month in Melrose Park — a 5% difference. Interestingly, home values tell a different story: while Melrose Park has cheaper rent, Chestnut Hill actually has lower median home values ($362,800 vs $427,400).

Median household income in Chestnut Hill is $125,417 compared to $154,946 in Melrose Park (-19.1%). While Melrose Park is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Chestnut Hill spend roughly 16.7% of their income on rent, more than the 12.9% in Melrose Park.