Quick facts: Liberty, IL

Quick Facts

102.4
Cost of Living
above US average
529
Population
22.68
Crime Rate per 1000
below US average
$72,917
Median Income
below US average
$375,000
Median House Price
above US average
$1707
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 $72,917.

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Income Needed to Buy

βœ— Stretch
$118k/year
Based on $375,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $118k vs median $72,917
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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 $72,917
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Liberty, IL

Liberty, Illinois, is a small village nestled in Adams County, known for its tight-knit community and charming rural ambiance. With a population of just a few hundred residents, it offers a peaceful lifestyle away from the hustle and bustle of larger urban areas. The village is characterized by its scenic landscapes, featuring lush farms, rolling hills, and serene natural surroundings. Liberty provides a variety of recreational opportunities, including outdoor activities such as hiking, fishing, and picnicking in local parks. It's also conveniently located near larger cities like Quincy, which is just a short drive away, offering additional amenities and services. The village has a few local businesses that cater to the daily needs of residents. Community events and gatherings contribute to a friendly atmosphere, fostering connections among neighbors. The educational needs of residents are primarily met by nearby school districts, providing children with quality educational opportunities. Overall, Liberty, IL is ideal for those seeking a tranquil rural lifestyle with a strong sense of community and access to nature.

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