Quick facts: Pesotum, IL

Quick Facts

102.4
Cost of Living
above US average
547
Population
91.41
Crime Rate per 1000
above US average
$80,938
Median Income
above US average
$189,900
Median House Price
above US average
$1707
Average Rent
above US average
5%
Poverty Rate
below US average
2.5%
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 $80,938.

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Income Needed to Buy

βœ“ Affordable
$60k/year
Based on $189,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($80,938) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$73k/year
Based on $1707/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($80,938) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Pesotum, IL

Pesotum is a small village located in Champaign County, Illinois, with a close-knit community atmosphere and a population of around 1,500 residents. Nestled just south of the larger city of Champaign, Pesotum offers a quiet suburban lifestyle while still providing easy access to the amenities of the city. The village is characterized by its rural charm, featuring scenic landscapes and a mix of residential and agricultural areas. Outdoor enthusiasts can enjoy nearby parks and recreational opportunities, making it an attractive spot for families and individuals who appreciate a slower pace of life. Pesotum is conveniently located off I-72, allowing for straightforward travel to nearby attractions and services in Champaign-Urbana, which is home to the University of Illinois and a variety of cultural, dining, and shopping options. In terms of community events, Pesotum fosters a sense of connection with local gatherings and festivals that highlight the village's spirit. Overall, Pesotum represents a quaint, welcoming place that balances small-town living with the benefits of nearby urban conveniences.

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