Selecting the best place to raise a family plays a vital role in shaping a child’s perspective and future opportunities. Niche, a trusted platform for rankings and data on towns, schools, and colleges, has unveiled its 2024 list of Chicago suburbs with the lowest cost of living.
This valuable resource highlights the most budget-friendly areas for families, taking into account key factors like home value-to-income ratios, median rent, gas prices, grocery costs and more. Check out what Illinois towns made the list below.
This story was updated on Dec. 20, 2024 by Chicago Parent’s Audience Development Manager, Katina Beniaris. Her update included reviewing the latest information and adding a graphic. Questions? Please email katina@chicagoparent.com.
Find the most affordable places to live by county:
- Most Affordable Places to Live in Cook County
- Most Affordable Places to Live in DuPage County
- Most Affordable Places to Live in Lake County
Best places with lowest cost of living in Chicagoland
1. Hodgkins
- Average home value: $38,100
- Population: 1,714
Hodgkins Park District manages a large community center and park system with scheduled activities year round.
2. Hometown
- Average home value: $151,400
- Population: 4,299
Hometown, a town with several community parks and recreation centers, scores an “A” from Niche for diversity and an “A-” in outdoor activities and good for families categories.
3. Ford Heights
- Average home value: $42,200
- Population: 1,618
This affordable suburb of Chicago scores an “A” in the commuting category from Niche. Students attend Ford Heights School District 169 and Bloom Township High School District 206.
4. Robbins
- Average home value: $105,600
- Population: 4,804
Robbins offers residents excellent commuting options and above average public schools all in an affordable community.
5. Steger
- Average home value: $121,900
- Population: 9,518
Steger’s two main parks, Harold Hecht Park and Veteran’s Park, are well loved by residents.
6. Thornton
- Average home value: $130,400
- Population: 2,169
Plenty of shopping and restaurant options, including the historic Thornton Distilling Company, the oldest standing brewery in the state.
7. Forest View
- Average home value: $249,600
- Population: 1,078
Forest View’s park district includes volleyball courts, a tennis court and softball field. Families enjoy a walking track and updated playground equipment, too.
8. South Chicago Heights
- Average home value: $121,500
- Population: 3,986
This smaller suburb of Chicago packs a diverse set of local cultures between its borders. It scores a “B+” from Niche in the outdoor activities, cost of living and commuting categories, too.
9. Crestwood
- Average home value: $185,800
- Population: 10,737
The affordable Chicago suburb of Burnside has an urban suburban mix and most residents own their home.
9. Crestwood
- Average home value: $185,800
- Population: 10,737
The affordable Chicago suburb of Crestwood is known for its family-friendly atmosphere, convenient access to parks and recreational activities and a tight-knit community where most residents own their homes.
10. Forest Lake
- Average home value: $312,500
- Population: 1,344
This suburb of Chicago encompasses a 42-acre private lake, offering dues-paying residents swimming, fishing, non-motorized boating and family-fun activities.
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