Elmwood Park, IL vs Hampshire, IL

There is a significant gap in the cost of living between these two cities. Elmwood Park is 23.6% cheaper than Hampshire. With a cost index of 102 vs 133, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Elmwood Park to Hampshire should plan for substantially higher expenses across most categories.

On the housing front, median rent in Elmwood Park is $1,295/month compared to $2,356/month in Hampshire — a 45% difference. Interestingly, home values tell a different story: while Elmwood Park has cheaper rent, Hampshire actually has lower median home values ($316,200 vs $325,000).

Median household income in Elmwood Park is $84,121 compared to $107,774 in Hampshire (-21.9%). The higher salaries in Hampshire partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of Elmwood Park spend roughly 18.5% of their income on rent, less than the 26.2% in Hampshire.

Climate-wise, both cities share similar average temperatures (51.3°F vs 49.7°F). Elmwood Park receives more rainfall at 37.9" per year compared to 33.2" in Hampshire.