Quick facts: Pontiac, IL

Quick Facts

102.4
Cost of Living
above US average
11,085
Population
11.28
Crime Rate per 1000
below US average
$55,226
Median Income
below US average
$129,900
Median House Price
above US average
$1177.86
Average Rent
below US average
10%
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 $55,226.

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Income Needed to Buy

βœ“ Affordable
$41k/year
Based on $129,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($55,226) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$50k/year
Based on $1177.86/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($55,226) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Pontiac, IL

Pontiac is a charming city located in Livingston County, Illinois. With a rich history that dates back to the 19th century, it serves as a cultural and economic hub for the surrounding area. Pontiac is renowned for its Historic Route 66 attractions, including the Route 66 Museum, which celebrates the iconic highway with displays and memorabilia. The city is also home to beautiful parks, such as the scenic SWALCO Park and the picturesque Davis Park, offering residents and visitors ideal spots for recreation and relaxation. Politically, Pontiac is part of the larger Chicago metropolitan area, providing access to urban amenities while maintaining a close-knit community feel. The city is known for its quaint downtown area featuring local shops, restaurants, and historical landmarks, making it a pleasant place to stroll and explore. Pontiac also boasts a variety of local festivals and events throughout the year, reflecting its vibrant community spirit. Overall, Pontiac, IL, is a delightful destination that combines history, culture, and small-town charm.

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