Quick facts: Oswego, IL

Quick Facts

110.3
Cost of Living
above US average
35,850
Population
6.08
Crime Rate per 1000
below US average
$112,109
Median Income
above US average
$469,990
Median House Price
above US average
$2586.94
Average Rent
above US average
3%
Poverty Rate
below US average
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 $112,109.

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Income Needed to Buy

βœ— Stretch
$147k/year
Based on $469,990 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $147k vs median $112,109
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Income Needed to Rent

βœ“ Affordable
$111k/year
Based on $2586.94/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($112,109) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Oswego, IL

Oswego, Illinois, is a charming village located about 50 miles southwest of Chicago in Kendall and Will counties. With a population of approximately 35,000 residents, Oswego boasts a welcoming community atmosphere coupled with a rich history dating back to the 1830s. The village is known for its picturesque downtown area, featuring a variety of local shops, restaurants, and parks along the Fox River. Outdoor enthusiasts can enjoy numerous recreational activities, with over 20 parks, walking and biking trails, and access to the Fox River for fishing and kayaking. Oswego is also home to several annual events, including the popular PrairieFest, which celebrates the community with music, food, and family activities. The area is served by the Oswego Community Unit School District, which is recognized for its strong educational programs and a commitment to student success. Commuters benefit from convenient access to major highways and nearby Metra train stations, making it an appealing option for those working in Chicago yet seeking a quieter suburban lifestyle. Overall, Oswego combines a sense of small-town charm with accessibility to urban amenities.

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