Quick facts: Northbrook, IL

Quick Facts

105.2
Cost of Living
above US average
34,182
Population
0.29
Crime Rate per 1000
below US average
$150,236
Median Income
above US average
$650,000
Median House Price
above US average
$2536.51
Average Rent
above US average
Poverty rate Data is updating, will be available soon
5.7%
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 $150,236.

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Income Needed to Buy

βœ— Stretch
$204k/year
Based on $650,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $204k vs median $150,236
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Income Needed to Rent

βœ“ Affordable
$109k/year
Based on $2536.51/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($150,236) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Northbrook, IL

Northbrook, Illinois, is a charming suburban community located about 25 miles north of downtown Chicago. Known for its beautiful residential neighborhoods, Northbrook offers a blend of family-friendly amenities and a vibrant local economy. The village is home to around 33,170 residents and boasts a strong sense of community, with numerous parks, recreational facilities, and a highly regarded school system. Northbrook features a mix of shopping options, including the Northbrook Court shopping mall, which offers a variety of stores and dining experiences. The village also has a variety of local restaurants and cafes that cater to diverse tastes. For outdoor enthusiasts, the Northbrook Park District provides ample green spaces and recreational opportunities, including sports fields, trails, and playgrounds. Culturally, Northbrook is enriched by its proximity to Chicago, allowing residents to easily access the city's attractions, arts, and entertainment. The local government emphasizes sustainability and community well-being, making it an attractive place for families and professionals alike. With its strong community spirit and strategic location, Northbrook is a desirable destination for those seeking suburban living near urban conveniences.

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