This section is generated from cached city metrics and clearly labeled state-level benchmarks. It is meant to make the Grandwood Park page less generic and more useful for comparing housing, income, utilities, taxes, insurance, demographics, and nearby alternatives.
Affordability Summary
Population is 5,311, so Grandwood Park should be compared with similar-size places before using broader Illinois averages. Median household income is $124,847, so the best affordability read for Grandwood Park is income versus housing, taxes, utilities, and insurance together.
Median home value is $313,000, so ownership costs in Grandwood Park should be checked with mortgage, property tax, insurance, and maintenance assumptions. Two-bedroom rent is $1,797/mo, so renters can compare Grandwood Park against ownership costs and nearby rental markets.
Housing and Income Context
For Grandwood Park, household income runs high enough that housing choice can dominate affordability. Home values sit in a moderate range where taxes and utilities still change the monthly math.
Use the home value, rent, and income fields together before deciding whether Grandwood Park looks more favorable for renting, buying, or comparing with Gages Lake, IL.
Utility Cost Context
The residential electricity benchmark is $0.189/kWh, so Grandwood Park households should treat usage, home size, heating, and cooling as the practical bill drivers. The electricity value shown for Grandwood Park is a Illinois state-level EIA benchmark, so it should not be read as a local provider tariff.
For Grandwood Park, utility planning is stronger when the electric benchmark is paired with home age, square footage, insulation, HVAC equipment, and household occupancy.
Property Tax Context
Median property tax paid is $9,690, so Grandwood Park buyers should still verify parcel-specific tax records before budgeting. Parcel boundaries, exemptions, school districts, and reassessment rules can move the actual bill for a Grandwood Park address.
Compare the property tax field with home value rather than reading it by itself; a lower tax bill can still pair with a different assessment base or exemption profile.
Insurance and Risk Context
Insurance costs in Grandwood Park depend on address-level factors such as roof condition, structure age, coverage limits, claims history, deductible choice, and carrier underwriting.
Home value, tax burden, and insurance exposure should be reviewed together for Grandwood Park, especially when comparing with Gages Lake, IL.
Population and Demographics
Median age is 42.2, so Grandwood Park may have different school, commute, healthcare, and housing demand patterns than a statewide average. Bachelor+ share is 59.1%, so Grandwood Park education context can be useful when reading labor-market and school sections.
Unemployment is 5.1%, so Grandwood Park wage and job-market context should be compared with commute options and regional employment centers.
