Homewood, IL vs Oak Lawn, IL

Homewood, IL and Oak Lawn, IL have a very similar cost of living, with only a 1.3% difference in their overall index. Homewood scores 96 while Oak Lawn scores 98 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 Homewood is $1,422/month compared to $1,310/month in Oak Lawn — a 9% difference. Interestingly, home values tell a different story: while Oak Lawn has cheaper rent, Homewood actually has lower median home values ($210,500 vs $267,900).

Median household income in Homewood is $96,522 compared to $82,493 in Oak Lawn (+17%). Homewood offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Homewood spend roughly 17.7% of their income on rent, less than the 19.1% in Oak Lawn.

Climate-wise, both cities share similar average temperatures (52.1°F vs 52.1°F). Oak Lawn receives more rainfall at 34.4" per year compared to 34.4" in Homewood.