Homewood, IL vs Winthrop Harbor, IL

Homewood, IL and Winthrop Harbor, IL have a very similar cost of living, with only a 2.7% difference in their overall index. Homewood scores 96 while Winthrop Harbor scores 94 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 $1,262/month in Winthrop Harbor — a 13% difference. Interestingly, home values tell a different story: while Winthrop Harbor has cheaper rent, Homewood actually has lower median home values ($210,500 vs $238,800).

Median household income in Homewood is $96,522 compared to $94,221 in Winthrop Harbor (+2.4%). The higher salaries in Homewood partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of Homewood spend roughly 17.7% of their income on rent, more than the 16.1% in Winthrop Harbor.

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