Quick facts: Granite city, IL

Quick Facts

102.4
Cost of Living
above US average
27,121
Population
32.26
Crime Rate per 1000
above US average
$58,681
Median Income
below US average
$119,900
Median House Price
above US average
$1036.09
Average Rent
below US average
15%
Poverty Rate
above US average
6.4%
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 $58,681.

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Income Needed to Buy

βœ“ Affordable
$38k/year
Based on $119,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($58,681) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$44k/year
Based on $1036.09/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($58,681) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Granite city, IL

Granite City is a vibrant city located in Madison County, Illinois, just across the Mississippi River from downtown St. Louis, Missouri. Known for its rich industrial history and close-knit community, Granite City has a varied cultural landscape influenced by its proximity to St. Louis. The city was founded in the early 19th century and played a significant role in the steel industry, primarily through the Granite City Steel Works, which shaped its economy and population growth. Today, Granite City continues to honor its industrial roots while embracing community development and revitalization efforts. Outdoor enthusiasts can enjoy several parks, including Wilson Park, which features sports facilities, walking trails, and picnic areas. The city also hosts community events, such as the annual Granite City Community Festival, celebrating local culture and bringing residents together. Granite City boasts access to various amenities, including dining options, shopping centers, and educational institutions. Its strategic location allows residents easy access to the metropolitan attractions of St. Louis while providing the charm of a smaller community.

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