Quick facts: Concord, IL

Quick Facts

102.4
Cost of Living
above US average
148
Population
Crime rate Data is updating, will be available soon
$41,000
Median Income
below US average
$109,900
Median House Price
above US average
$1707
Average Rent
above US average
Poverty rate Data is updating, will be available soon
Unemployment Data is updating, will be available soon

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 $41,000.

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Income Needed to Buy

βœ“ Affordable
$34k/year
Based on $109,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($41,000) exceeds requirement
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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 $41,000
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Concord, IL

Concord is a small village located in the state of Illinois, specifically in Scott County. With a population of around 450 residents, it offers a tranquil, tight-knit community atmosphere. The village is characterized by its rural charm, featuring quaint homes, open spaces, and a slower pace of life, making it ideal for those looking to escape the hustle and bustle of city living. Located near larger cities like Jacksonville and Springfield, residents of Concord enjoy easy access to more urban amenities while still relishing the peace of their small town. The surrounding area offers various recreational opportunities including parks, nature trails, and agricultural activities, which are representative of the region's rich farming heritage. Concord is primarily residential, with local services focusing on the day-to-day needs of its inhabitants. With a strong sense of community, the village hosts seasonal events and gatherings that foster connections among residents. For those seeking a serene lifestyle with the option to venture into nearby cities for work or leisure, Concord serves as a perfect retreat.

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