Quick facts: Cornell, WI

Quick Facts

100.2
Cost of Living
above US average
1,424
Population
9.13
Crime Rate per 1000
below US average
$59,375
Median Income
below US average
$224,900
Median House Price
above US average
$1325
Average Rent
below US average
9%
Poverty Rate
below US average
3.5%
Unemployment Rate
below 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 $59,375.

🏠

Income Needed to Buy

βœ— Stretch
$71k/year
Based on $224,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $71k vs median $59,375
🏒

Income Needed to Rent

βœ“ Affordable
$57k/year
Based on $1325/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($59,375) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Cornell, WI

Cornell is a small city located in Chippewa County, Wisconsin. Nestled along the banks of the Chippewa River, Cornell is part of a region known for its natural beauty and outdoor recreational opportunities. The city is characterized by its rich history, quaint downtown area, and friendly community atmosphere. Cornell offers various amenities to residents and visitors alike, including local shops, cafes, and parks. Outdoor enthusiasts will appreciate access to hiking, fishing, and boating in nearby water bodies, making it a perfect spot for nature lovers. The city hosts several community events throughout the year, fostering a strong sense of belonging among its residents. Historically, Cornell played a significant role in the lumber industry during the late 19th and early 20th centuries, which contributed to its development. Today, the economy is primarily driven by agriculture and small businesses, reflecting the city's rural charm. With its welcoming environment and picturesque landscapes, Cornell serves as a peaceful retreat for families and individuals looking to escape the hustle and bustle of larger urban areas.

πŸ” Search & Compare Places

First Location πŸ“