Quick facts: Elburn, IL

Quick Facts

102.4
Cost of Living
above US average
6,408
Population
4.06
Crime Rate per 1000
below US average
$106,347
Median Income
above US average
$458,000
Median House Price
above US average
$3216.25
Average Rent
above US average
5%
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 $106,347.

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Income Needed to Buy

βœ— Stretch
$144k/year
Based on $458,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $144k vs median $106,347
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Income Needed to Rent

⚠ Stretch
$138k/year
Based on $3216.25/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $138k vs median $106,347
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Elburn, IL

Elburn is a small village located in Kane County, Illinois, within the Chicago metropolitan area. Known for its charming rural atmosphere, Elburn boasts a tight-knit community with a population of around 5,500 residents. The village offers a blend of a peaceful suburban lifestyle and accessibility to urban amenities, making it an attractive place for families and commuters. Elburn's main features include its picturesque downtown area, which is lined with local shops, cafes, and parks. The village is home to the Elburn train station, part of the Metra rail system, providing convenient access to Chicago and surrounding areas for work or leisure. Outdoor enthusiasts can enjoy the nearby nature trails and parks, such as the Elburn Forest Preserve, offering opportunities for hiking and wildlife observation. The village also hosts various community events throughout the year, fostering a sense of togetherness among residents. With a strong emphasis on community values, quality schools, and an inviting atmosphere, Elburn presents an appealing small-town experience while still being a stone's throw away from the bustle of the larger cities in Illinois.

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