Grayslake, IL vs University Park, IL

University Park is moderately more affordable than Grayslake, with a 10.6% lower cost of living index. Grayslake scores 103 compared to 94 for University Park, where the US average is 100. This difference means residents of Grayslake can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Grayslake is $1,434/month compared to $1,530/month in University Park — a 6% difference. Interestingly, home values tell a different story: while Grayslake has cheaper rent, University Park actually has lower median home values ($137,800 vs $293,900).

Median household income in Grayslake is $113,697 compared to $65,580 in University Park (+73.4%). While Grayslake is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Grayslake spend roughly 15.1% of their income on rent, less than the 28% in University Park.

Climate-wise, University Park is notably warmer with an average of 52.1°F compared to 48.3°F in Grayslake. Grayslake receives more rainfall at 35.3" per year compared to 34.4" in University Park.