Living in Grandwood Park, Illinois
Cost of living, income, home prices, rent and demographics of Grandwood Park · Census data 2020–2024
Grandwood Park has 5,262 residents with a median age of 42.2. The median household income is $126,736 (52% higher than the Illinois median), the median home value is $330,500, the median rent is $1,836/month.
Grandwood Park at a glance
- Population
- 5,262
- Median age
- 42.2State: 39
- Median household income
- $126,736State: $83,390
- Median home value
- $330,500State: $263,300
- Median rent
- $1,836/moState: $1,274
- Homeowners
- 87.4%
- Bachelor's degree or higher
- 59.2%
- Average commute
- 26 min
Is Grandwood Park a good place to live?
Pros: Median household income 52% higher than the Illinois median; an average commute of 26 minutes; unemployment of 2%; a poverty rate of 2.8%.
Cons: Home values 26% higher than the state median.
The weather is best in June to September.
Cost of living in Grandwood Park
Housing is the biggest part of the cost of living. In Grandwood Park the median home value is $330,500, about the same as the U.S. median. Renters pay a median of $1,836 per month, which is 36.3% of household income. Homeowners with a mortgage pay $2,854 a month in housing costs.
Grandwood Park median household income
The median household income in Grandwood Park is $126,736 and the income per person is $66,248. 2.8% of residents live below the poverty line (Illinois: 11.8%).
Housing in Grandwood Park: homes for sale and rent
- Housing units
- 2,075
- Owner-occupied
- 87.4%
- Renter-occupied
- 12.6%
- Vacant
- 5.3%Includes seasonal homes
- Median year built
- 1991
- Average household size
- 2.68
Grandwood Park demographics
- Population
- 5,262
- Median age
- 42.2
- Under 18
- 20.4%
- 65 and older
- 12.3%
- Households
- 1,966
- Foreign-born
- 14.6%
- Veterans
- 3.8%Adults 18+
Hispanic or Latino can be of any race. Population history of Grandwood Park ›
Education in Grandwood Park
59.2% of adults 25 and older in Grandwood Park have a bachelor's degree or higher (Illinois: 37.8%), and 21.3% have a graduate or professional degree.
Jobs and commute in Grandwood Park
- Unemployment rate
- 2%State: 5.8%
- Average commute
- 26 minState: 28 min
- Work from home
- 21%
- Drive alone
- 73.3%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 97.7%
Grandwood Park vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Grandwood Park | 5,262 | $126,736 | $330,500 | $1,836 |
| Third Lake | 1,137 | $150,139 | $361,500 | — |
| Lindenhurst | 14,417 | $131,474 | $294,100 | $1,768 |
| Gages Lake | 10,819 | $103,318 | $310,500 | $1,693 |
| Old Mill Creek | 143 | $108,333 | $450,000 | $1,688 |
| Venetian Village | 2,334 | $79,273 | $231,100 | $1,711 |
| Gurnee | 30,510 | $119,628 | $344,300 | $1,655 |
| Grayslake | 20,929 | $113,972 | $309,500 | $1,485 |
| Round Lake Beach | 27,079 | $86,059 | $199,200 | $1,543 |
More for people moving to Grandwood Park
Grandwood Park ZIP code ›Weather and climate ›Living in Grandwood Park: FAQ
What is the median household income in Grandwood Park, IL?
The median household income in Grandwood Park is $126,736, 52% higher than the Illinois median of $83,390 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Grandwood Park?
The median home value in Grandwood Park is $330,500, compared with $263,300 in Illinois.
How much is rent in Grandwood Park?
The median gross rent in Grandwood Park is $1,836 per month, about 36.3% of household income.
Is Grandwood Park, IL a good place to live?
Pluses: median household income 52% higher than the Illinois median; an average commute of 26 minutes; unemployment of 2%; a poverty rate of 2.8%. Minuses: home values 26% higher than the state median.
What is the median age in Grandwood Park?
The median age in Grandwood Park is 42.2 years (Illinois: 39).
How long is the commute in Grandwood Park?
The average commute to work in Grandwood Park is 26 minutes; 21% of workers work from home.
What is the unemployment rate in Grandwood Park?
The unemployment rate in Grandwood Park is 2% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Grandwood Park?
59.2% of adults in Grandwood Park have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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