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New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

Park Ridge, IL Housing Affordability Index

Park Ridge, Illinois has an MBR Housing Affordability Index score of 93.5 (Near National Average) as of October 30, 2026, ranking 1168th most affordable of 1,249 scored Illinois cities, compared with 102.2 statewide and 97.4 nationally. On a median-priced $551,200 home with 20% down, the Illinois average 30-year fixed rate of 7.31% means a monthly principal and interest payment of about $3,027, or 25% of the city’s $142,986 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Park Ridge is updated every night from live Illinois mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

Park Ridge MBR-HAI 93.5 Near National Average
Rank in Illinois 1,168 of 1,249 1 = most affordable
Illinois 102.2 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.31% Illinois lenders
Median home value $551,200 U.S. Census Bureau

Park Ridge is 8.7 points below the Illinois score. Scores as of October 30, 2026. See the Illinois index

View Park Ridge Mortgage Rates

What It Takes to Buy in Park Ridge

$3,027/mo
Principal & Interest
Median home, 20% down, 7.31%
$129,700
Income Needed
To keep the payment at 28% of income
$142,986
Median Household Income
Illinois: $83,390
3.9x
Price-to-Income Ratio
Illinois: 3.2x
$2,357/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$4,987/yr
Median Property Tax
Illinois figure
26.5%
Owner Cost Burden
Owners spending 30%+ of income on housing
38.1%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for Park Ridge, Illinois. The rate is the Illinois average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

Cite the Park Ridge Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Park Ridge, Illinois score: 93.5 (Near National Average), ranked 1,168 of 1,249 Illinois cities. monitorbankrates.com/housing-affordability-index/illinois/park-ridge”