Quick facts: Kewanee, IL

Quick Facts

102.4
Cost of Living
above US average
12,229
Population
44.16
Crime Rate per 1000
above US average
$46,305
Median Income
below US average
$80,900
Median House Price
above US average
$1707
Average Rent
above US average
12%
Poverty Rate
above US average
5.2%
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 $46,305.

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Income Needed to Buy

βœ“ Affordable
$25k/year
Based on $80,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($46,305) exceeds requirement
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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 $46,305
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Kewanee, IL

Kewanee, Illinois, is a charming small city located in Henry County in the northwestern part of the state. Known for its friendly community atmosphere, Kewanee serves as a beacon of small-town Midwestern charm. The city, with a population of around 12,000 residents, boasts a rich history tied to agriculture and manufacturing. One of Kewanee's notable features is the Kewanee Historical Society, which preserves the area's heritage and offers insights into the local culture. The city is also home to the Kewanee Donkey Festival, an annual event that celebrates the town's unique history of donkey breeding, adding a quirky touch to its local attractions. Parks and recreational spaces, such as Baker Park and the nearby Kewanee State Fish and Wildlife Area, provide residents and visitors with ample opportunities for outdoor activities like hiking, fishing, and picnicking. Education is supported by strong local schools, including Kewanee High School, and there are community initiatives that enhance cultural experiences. Overall, Kewanee is a quaint, welcoming city with a rich heritage, making it a delightful place to visit or call home.

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