Quick facts: Charleston, IL

Quick Facts

102.4
Cost of Living
above US average
17,119
Population
6.89
Crime Rate per 1000
below US average
$47,533
Median Income
below US average
$40,000
Median House Price
above US average
$712.83
Average Rent
below US average
15%
Poverty Rate
above US average
5.3%
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 $47,533.

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Income Needed to Buy

βœ“ Affordable
$13k/year
Based on $40,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($47,533) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$31k/year
Based on $712.83/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($47,533) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Charleston, IL

Charleston, Illinois, located in Coles County, is a small city known for its quaint charm and close-knit community. With a population of around 21,000 residents, it serves as a hub for education and culture in the region, primarily due to Eastern Illinois University (EIU), which enriches the city’s atmosphere with a youthful vibe and various events throughout the year. Charleston features a mix of historic architecture and modern amenities, showcasing attractions like the Coles County Courthouse and several parks, such as the beautiful Lake Land College. The city's commitment to preserving its history is evident in sites like the Lincoln-Boone County Museum and the nearby historical markers. Outdoor enthusiasts can enjoy activities in local parks, while the city's vibrant arts scene offers galleries, music events, and theater productions. Residents and visitors alike appreciate Charleston for its friendly atmosphere, community events, and a blend of educational, recreational, and cultural opportunities that enhance the quality of life. Overall, Charleston, IL, provides a picturesque spot with a rich heritage and a welcoming community spirit.

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