Cost of Living in Burr Ridge, IL

With a cost of living index of 184, Burr Ridge, IL is one of the most expensive cities in the United States. Living here is 84% more expensive than the national average and 104% above the Illinois state average of 80. Burr Ridge is a smaller community of 11,119 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Burr Ridge's cost of living. The median monthly rent is $3,000 (127% above the US median of $1,319), and the median home value sits at $694,800 (128% above the national median of $304,900). At current prices, the median home costs roughly 4.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in Burr Ridge is $154,508, which is 106% higher than the national median of $75,149. Residents spend roughly 23% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. While incomes are above average, they more than offset the higher cost of living.

Everyday prices in the Chicago-Naperville-Elgin, IL-IN (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 5 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.