Quick facts: Evanston, IL

Quick Facts

102.4
Cost of Living
above US average
75,544
Population
26.53
Crime Rate per 1000
above US average
$93,188
Median Income
above US average
$429,900
Median House Price
above US average
$2960.01
Average Rent
above US average
9%
Poverty Rate
below US average
5.7%
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 $93,188.

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Income Needed to Buy

βœ— Stretch
$135k/year
Based on $429,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $135k vs median $93,188
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Income Needed to Rent

⚠ Stretch
$127k/year
Based on $2960.01/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $127k vs median $93,188
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Evanston, IL

Evanston, Illinois, is a vibrant city located just north of Chicago along the shores of Lake Michigan. Known for its rich cultural heritage and diverse community, it boasts a mix of urban and suburban characteristics. Home to Northwestern University, Evanston is a hub of education and innovation, contributing to a lively atmosphere filled with students and intellectuals. The city features a picturesque waterfront with parks and beaches, ideal for outdoor activities. Evanston's downtown area offers a variety of shops, restaurants, and theaters, making it a lively spot for both residents and visitors. The city prides itself on its commitment to sustainability and has numerous green spaces and initiatives. Evanston's historical districts showcase well-preserved architecture, reflecting its past while encouraging modern development. The city hosts several annual festivals and events, celebrating its arts and culture. With an excellent public transportation system, residents can easily access nearby Chicago, blending city life with suburban charm. Overall, Evanston is a dynamic city that offers a high quality of life, education, and community engagement.

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