River Forest, IL vs Lake Elmo, MN: Cost of Living

Which city costs less?

Lake Elmo, MN has a modeled overall cost index 2.9% higher than River Forest, IL.

River Forest, IL · modeled 2BR rent: $1,800 / month
Lake Elmo, MN · modeled 2BR rent: $1,770 / month

These are saved estimates, not current rental listings. Some cities use adjusted regional data. Your household budget can differ from the overall index. Sources and assumptions

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Cost of Living Comparison 2026

Compare River Forest, IL and Lake Elmo, MN using saved regional data and explicit budgeting assumptions. Rent estimates are not live listings. Change the salary below, then check the source notes before applying a result to your household.

Saved regional estimates · Sources and assumptions

Current salary in River Forest, IL

Numbers update automatically as you type

Estimated savings: $91.97/month in Lake Elmo, MN

$150,000 in your current city has a modeled equivalent of $148,896 in Lake Elmo, MN

Regional cost estimates: River Forest, IL uses Chicago, IL. Lake Elmo, MN uses Saint Paul, MN. Available city ZIP rent estimates are shown separately.

Overall Cost

↑ 2.9%

More expensive

Monthly Impact

$91.97

Savings

Annual Impact

$1.1K

Per year

Assumes 60% of current gross income goes to living costs. The headline uses the category budget below; taxes, moving costs and savings goals are excluded.

River Forest, IL

Population:11K

Cost Index:

95.2

100 = national average

Typical Home:$686K

Lake Elmo, MN

Population:14K

Cost Index:

97.9

100 = national average

Typical Home:$604K

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River Forest, IL

The Prairie State

11K

Population

State Tax

Yes

Located in Illinois, this city has a population of 11K residents.

Lake Elmo, MN

The North Star State

14K

Population

State Tax

Yes

Located in Minnesota, this city has a population of 14K residents.

Cost Breakdown by Category

Estimated monthly spending: River Forest, IL vs Lake Elmo, MN

Assumes 60% of your current gross income is spent on these categories. The headline and totals use this same budget. Rent estimates below are separate reference data. Rounded amounts may differ by $1.

Category	River Forest, IL	Lake Elmo, MN	Difference	Change
Transportation	$1,486/mo	$1,292/mo	↓ $194less	13.0%
Healthcare	$560/mo	$733/mo	↑ $172more	30.8%
Housing	$2,440/mo	$2,278/mo	↓ $163less	6.7%
Other	$1,554/mo	$1,615/mo	↑ $60.28more	3.9%
Groceries	$970/mo	$998/mo	↑ $28.18more	2.9%
All Utilities	$489/mo	$493/mo	↑ $3.62more	0.7%

Transportation

↓ 13.0%

River Forest, IL

$1,486

Lake Elmo, MN

$1,292

Difference

$194

less

Healthcare

↑ 30.8%

River Forest, IL

$560

Lake Elmo, MN

$733

Difference

$172

Housing

↓ 6.7%

River Forest, IL

$2,440

Lake Elmo, MN

$2,278

Difference

$163

less

Other

↑ 3.9%

River Forest, IL

$1,554

Lake Elmo, MN

$1,615

Difference

$60.28

Groceries

↑ 2.9%

River Forest, IL

$970

Lake Elmo, MN

$998

Difference

$28.18

All Utilities

↑ 0.7%

River Forest, IL

$489

Lake Elmo, MN

$493

Difference

$3.62

🏠Rent Comparison

Studio

From$1,500

To$1,290

↓ $210

1 Bed

From$1,600

To$1,460

↓ $140

2 Bed

From$1,800

To$1,770

↓ $30.00

3 Bed

From$2,320

To$2,350

↑ $30.00

River Forest, ILZIP-level data

1BR range: $1,600–$1,600/mo

Lake Elmo, MNZIP-level data

1BR range: $1,460–$1,460/mo

💡 Note: HUD Fair Market Rents estimate 40th-percentile gross rents, including most tenant-paid utilities. City ZIP summaries are medians of those estimates, not market median rents. Actual prices vary by neighborhood, amenities, and condition. Source: HUD Small Area Fair Market Rents FY2026.

$7,500

Monthly in River Forest, IL

$7,408

Monthly in Lake Elmo, MN

$91.97

Difference

Home Values

River Forest

Lake Elmo

$686K

Median Value

$604K

↑ +10%

YoY Change

↑ +1.6%

↑ +33.9%

5-Year Change

↑ +24.6%

Homes in Lake Elmo are 12% less expensive than River Forest

Calculate payment - River Forest Calculate payment - Lake Elmo

Source: Zillow Home Value Index (ZHVI), January 2026

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings

↓ $3.0K

More taxes

Monthly Difference

$251

Less take-home

Effective Rate Diff

2.0%

Rate difference

River Forest, IL

Federal Income Tax

Effective: 18.9%

$25.5K

Illinois State Tax

Effective: 5.0%

$7.4K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 29.6%

$44.4K

Take-Home Pay

$8,797/month

$105.6K

Lake Elmo, MN

Federal Income Tax

Effective: 18.9%

$25.5K

Minnesota State Tax

Effective: 7.0%

$10.4K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 31.6%

$47.4K

Take-Home Pay

$8,546/month

$102.6K

Additional Tax Information

River Forest, IL Tax Rates

Sales Tax:8.8%

Property Tax:2.2%

Lake Elmo, MN Tax Rates

Sales Tax:8.0%

Property Tax:1.1%

💡 Note: Tax calculations are estimates based on 2024/2025 tax brackets for single filers with standard deduction. Actual taxes may vary based on filing status, deductions, credits, and local variations.

Environment

River Forest

Lake Elmo

54 Moderate

Air Quality

36 Good

35.8%

Good Air Days

72.4%

100 Very High

Climate Risk

95 High

🌊🌡🫨

Top Hazards

🌊🌡🌪

▲+3.2°F

2050 Outlook

▲+3.7°F

18 days

Heat Days >95°F

14 days

▲+3.2°F

2050 Outlook

▲+3.7°F

18 days

Heat Days >95°F

14 days

Before moving from River Forest, IL to Lake Elmo, MN

Use this comparison to shortlist a move, then check the costs that depend on your household.

Compare actual homes. Get current quotes in Lake Elmo, MN for the same bedroom count and included utilities as your home in River Forest, IL. Add parking, deposits, insurance and any overlapping leases. The rent estimates above are a starting point, not available listings.
Confirm your income. Check your expected pay with your employer, including any location adjustment. Use “Different salary at destination?” above to compare two incomes. The budget model excludes taxes and one-time moving costs; it is not a take-home-pay calculation.
Price your daily routine. Check the commute from a specific address to work, school or childcare. Add household expenses missing from this model, such as childcare, debt payments and medical needs. Verify local services before signing a lease.
Plan the transition. Get moving quotes and budget for travel, setup costs and time off. Open your River Forest to Lake Elmo moving checklist to organize the tasks and timing.

Still choosing a destination? Explore cities similar to Lake Elmo, MN by cost, housing, population and region.

Frequently Asked Questions: River Forest, IL vs Lake Elmo, MN

How do the cost estimates for River Forest, IL and Lake Elmo, MN compare?

Lake Elmo, MN has a modeled overall cost index 2.9% higher than River Forest, IL. This is a broad model comparison, not a survey of today's prices or a forecast of your household spending. Some cities use adjusted regional fallback data.

What does the equivalent salary mean?

At a $150,000 salary in River Forest, IL, the model estimates $148,896 in Lake Elmo, MN. It allocates 60% of gross income to the origin city’s category budget and applies each destination category’s relative cost. The equivalent salary adds the total category difference to your income. The monthly difference is the same category difference divided by 12; it is not take-home pay or guaranteed savings. Household size, childcare and your actual lease are not inputs to this calculation.

What rent estimates are available for River Forest, IL and Lake Elmo, MN?

The modeled two-bedroom rents are $1,800/month in River Forest, IL and $1,770/month in Lake Elmo, MN. Where available, the source is a city median of HUD FY2026 ZIP-level estimates; otherwise a saved metro table is used. City adjustments may also apply. These are not asking rents or available listings. Compare actual properties with the same bedroom count and included utilities.

How should I use this comparison before moving?

Use it to shortlist locations, then replace modeled costs with a current housing quote, employer-confirmed income, commute costs, insurance and your household's other expenses. Add one-time moving costs separately. Source years differ and the saved datasets are not a live price feed. Read the methodology for the formulas and fallback rules.

💰 See how taxes change too — compare take-home pay between Illinois and Minnesota on TaxTakeHome.com