Quick facts: Davis junction, IL

Quick Facts

102.4
Cost of Living
above US average
2,525
Population
8.32
Crime Rate per 1000
below US average
$97,788
Median Income
above US average
$235,000
Median House Price
above US average
$1707
Average Rent
above US average
6%
Poverty Rate
below US average
3.0%
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 $97,788.

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Income Needed to Buy

βœ“ Affordable
$74k/year
Based on $235,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($97,788) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$73k/year
Based on $1707/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($97,788) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Davis junction, IL

Davis Junction is a quaint village located in Ogle County, Illinois. Situated approximately 70 miles northwest of Chicago, it offers a serene, small-town atmosphere while still being accessible to urban amenities. The village is primarily residential, characterized by a tight-knit community that values a quiet lifestyle. Davis Junction is surrounded by picturesque countryside, making it ideal for those who enjoy outdoor activities. The area features several parks and recreational facilities, providing opportunities for hiking, picnicking, and community events. The village's close proximity to larger cities like Rockford adds to its appeal, giving residents easy access to shopping, dining, and entertainment options. With a modest population, Davis Junction fosters a strong sense of community with local events and gatherings that bring residents together. The village is served by dedicated local schools, contributing to its family-friendly environment. Overall, Davis Junction combines the charm of rural living with the conveniences of urban life, making it a hidden gem in Illinois.

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