Quick facts: Glenarm, IL

Quick Facts

102.4
Cost of Living
above US average
250
Population
60.0
Crime Rate per 1000
above US average
$55,000
Median Income
below US average
$660,000
Median House Price
above US average
$1707
Average Rent
above US average
5%
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 $55,000.

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Income Needed to Buy

βœ— Stretch
$207k/year
Based on $660,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $207k vs median $55,000
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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 $55,000
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Glenarm, IL

Glenarm is a small village located in Sangamon County, Illinois, nestled within the central region of the state. With a population of approximately 200 residents, it offers a quaint, tight-knit community atmosphere. Situated just southeast of the capital city, Springfield, Glenarm benefits from proximity to urban amenities while retaining its rural charm. The village features a rural landscape characterized by open fields and small residential areas, providing a peaceful environment ideal for families and those seeking a quieter lifestyle. Outdoor enthusiasts can enjoy the surrounding natural beauty, with opportunities for hiking and exploration in the numerous parks and reserves nearby. Glenarm's location allows easy access to Springfield, where residents can explore a variety of cultural attractions, including the Abraham Lincoln Presidential Library and Museum, diverse dining options, and shopping centers. The village maintains a strong sense of community with local events and gatherings, making it an inviting place to live for those who appreciate a slower pace of life while still being connected to larger urban areas.

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