Quick facts: North chicago, IL

Quick Facts

95.3
Cost of Living
below US average
30,490
Population
5.05
Crime Rate per 1000
below US average
$52,011
Median Income
below US average
$219,900
Median House Price
above US average
$1553.64
Average Rent
above US average
17%
Poverty Rate
above US average
6.7%
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 $52,011.

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Income Needed to Buy

βœ— Stretch
$69k/year
Based on $219,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $69k vs median $52,011
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Income Needed to Rent

⚠ Stretch
$67k/year
Based on $1553.64/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $67k vs median $52,011
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for North chicago, IL

North Chicago is a vibrant city located in Lake County, Illinois, situated along the scenic shores of Lake Michigan. With its rich history and diverse population, it serves as a key urban center within the Chicago metropolitan area. North Chicago is home to several notable facilities, including the Naval Station Great Lakes, the largest naval training center in the United States, contributing significantly to the local economy and community. The city boasts a mix of residential neighborhoods and commercial areas, providing a range of amenities and services to its residents. Outdoor enthusiasts will appreciate nearby parks and recreational areas, including the picturesque Lake Michigan shoreline, offering opportunities for fishing, boating, and enjoying nature. North Chicago is well-connected through major highways and public transportation options, making access to Chicago and neighboring suburbs convenient. The area is also known for its commitment to education, with several schools and educational institutes serving the community. Overall, North Chicago is a dynamic city with a strong sense of community, rich cultural diversity, and a variety of recreational and economic opportunities.

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