Quick facts: Olympia fields, IL

Quick Facts

102.4
Cost of Living
above US average
4,569
Population
38.08
Crime Rate per 1000
above US average
$98,659
Median Income
above US average
$300,000
Median House Price
above US average
$3500.0
Average Rent
above US average
9%
Poverty Rate
below US average
4.2%
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 $98,659.

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Income Needed to Buy

βœ“ Affordable
$94k/year
Based on $300,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($98,659) exceeds requirement
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Income Needed to Rent

⚠ Stretch
$150k/year
Based on $3500.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $150k vs median $98,659
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Olympia fields, IL

Olympia Fields is a picturesque village located in Cook County, Illinois, approximately 30 miles south of downtown Chicago. Boasting a rich history and a tight-knit community, it features suburban charm intertwined with accessibility to the bustling city. Olympia Fields is known for its beautiful residential neighborhoods, tree-lined streets, and an abundance of green space, making it ideal for families and outdoor enthusiasts. The village has a strong focus on community engagement and offers various recreational activities, including parks and sports facilities. Its proximity to the prestigious Olympia Fields Country Club enhances its allure, as the club has hosted multiple national golf championships. The educational landscape is highlighted by quality public and private schools, contributing to the town's appeal to families. Moreover, residents enjoy easy access to major highways and public transportation, allowing for convenient commuting to Chicago and surrounding areas. Overall, Olympia Fields is a serene and welcoming community that perfectly balances suburban tranquility with urban accessibility.

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