Salary & Cost of Living in Oak Park, IL
Oak Park, IL: $53,138 median salary, cost of living index 97.2, $14.00/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$53,138
$26/hr
Cost of Living
97.2
US avg = 100
Minimum Wage
$14.00
per hour
Unemployment
4.8%
rate
Oak Park, IL Overview
Population
52,233
Median Salary
$53,138
Average Salary
$59,515
Avg Commute
20 min
Median Home Price
$261,000
Median Rent
$1,070/mo
Job Growth
+2.9%
Sales Tax
6.25%
Oak Park is located in Illinois with a population of 52,233. The median household salary is $53,138 per year ($26/hour), which is $6,246 below the national median of $59,384. The average commute time is 20 minutes, and the city has a job growth rate of +2.9%.
Oak Park Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Oak Park, IL, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$42,105
$3,508.71/month · $1,619.41/biweekly · Effective Rate: 20.8%
Gross Pay
$53,138
Federal Tax
-$4,338
State Tax
-$2,630
Local Tax
$0
FICA
-$4,065
Net Pay
$42,105
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $4,428.17 | $53,138.00 |
| Federal Income Tax | -$361.50 | -$4,338.06 |
| Illinois State Tax (4.95%) | -$219.19 | -$2,630.33 |
| Social Security (6.2%) | -$274.55 | -$3,294.56 |
| Medicare (1.45%) | -$64.21 | -$770.50 |
| Net Take-Home Pay | $3,508.71 | $42,104.55 |
Salary Comparison: Oak Park vs Other Cities
See how Oak Park's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Oak Park, IL | $53,138 | 97.2 | $54,669 |
| National Average | $59,384 | 100 | $59,384 |
| Spring, TX | $53,156 | 90.8 | $58,542 |
| Huntersville, NC | $53,157 | 99 | $53,694 |
| Navarre, FL | $53,116 | 100 | $53,116 |
| Harlingen, TX | $53,163 | 98.5 | $53,973 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Oak Park
Oak Park's cost of living index is 97.2 (national average = 100). Living in Oak Park is 2.799999999999997% less expensive than the national average.
Median Home Price
$261,000
Median Monthly Rent
$1,070
Annual Rent Cost
$12,840
Your Salary's Purchasing Power
Your $42,105 annual take-home pay in Oak Park has the purchasing power of approximately $43,317 in an average-cost US area. Your $53,138 salary stretches further here than in most US cities.
Top Industries in Oak Park
Oak Park's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $53,138.
Salary Tips for Oak Park Workers
- Research top industries. Oak Park's top industries include Finance, Manufacturing, Technology. Targeting roles in these sectors can help you earn above the $53,138 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
Explore Salaries Across the US
Compare salary data and cost of living for hundreds of US cities. Find out where your paycheck goes the furthest.
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Frequently Asked Questions
What is the median salary in Oak Park, IL?
The median salary in Oak Park, IL is $53,138 per year, or $26 per hour. The average salary is $59,515. This is $6,246 below the national median of $59,384.
What is the cost of living in Oak Park, IL?
Oak Park's cost of living index is 97.2 (national average = 100), meaning it is 2.799999999999997% less expensive compared to the national average. The median home price is $261,000 and the median monthly rent is $1,070.
What are the best industries in Oak Park?
The top industries in Oak Park, IL include Finance, Manufacturing, Technology. The city has a job growth rate of 2.9% and an unemployment rate of 4.8%. Workers in these industries often earn above the city's median salary of $53,138.
How does Oak Park's salary compare to other cities?
Oak Park's median salary of $53,138 is 10.5% below the national median of $59,384. However, when adjusted for cost of living (index: 97.2), the real purchasing power is approximately $54,669.
What is the minimum wage in Oak Park, IL?
The minimum wage in Oak Park, IL is $14.00 per hour. This equals approximately $29,120 per year for a full-time worker (40 hours/week). This is $6.75 above the federal minimum wage of $7.25/hour.