Quick facts: Baileyville, IL

Quick Facts

102.4
Cost of Living
above US average
666
Population
15.02
Crime Rate per 1000
below US average
$60,000
Median Income
below US average
$250,000
Median House Price
above US average
$1707
Average Rent
above US average
10%
Poverty Rate
below US average
5.0%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $60,000.

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Income Needed to Buy

βœ— Stretch
$78k/year
Based on $250,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $78k vs median $60,000
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Income Needed to Rent

⚠ Stretch
$73k/year
Based on $1707/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $73k vs median $60,000
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Baileyville, IL

Baileyville is a small village located in Ogle County, Illinois, with a close-knit community and a population of approximately 200 residents. Nestled in the northern part of the state, it offers a rural charm and a peaceful environment. The village is situated near the intersection of IL Route 251 and IL Route 72, providing convenient access to larger towns such as Oregon and Byron. Baileyville is characterized by its agricultural landscape, with many homes surrounded by open fields and farmland. The community hosts several local events that foster a sense of togetherness, reflecting the residents' strong ties. The surrounding area offers outdoor recreational opportunities, including hiking, biking, and fishing, particularly along the scenic Rock River. Despite its small size, Baileyville embodies a welcoming atmosphere, making it an attractive place for those seeking a quiet lifestyle while still being near more populated urban areas. With its rich community spirit and picturesque surroundings, Baileyville encapsulates the essence of small-town living in the Midwest.

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