Quick facts: Royalton, IL

Quick Facts

102.4
Cost of Living
above US average
1,047
Population
1.91
Crime Rate per 1000
below US average
$44,313
Median Income
below US average
$155,000
Median House Price
above US average
$899.0
Average Rent
below US average
12%
Poverty Rate
above US average
4.1%
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 $44,313.

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Income Needed to Buy

βœ— Stretch
$49k/year
Based on $155,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $49k vs median $44,313
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Income Needed to Rent

βœ“ Affordable
$39k/year
Based on $899.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($44,313) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Royalton, IL

Royalton is a small village located in Franklin County, Illinois. With a population of around 1,000 residents, it offers a close-knit community atmosphere. The village is situated in the southern part of the state, surrounded by scenic rural landscapes. Royalton is primarily residential, featuring a mix of charming single-family homes and local businesses that serve the community. The area is known for its friendly, welcoming vibe, making it an ideal place for families and those seeking a quieter lifestyle. Royalton is nearby larger towns like Benton, which provides access to more amenities such as shopping, dining, and recreational activities. The village is rich in history and has a few local parks and recreational areas that provide residents with opportunities for outdoor activities. Community events and local gatherings often take place, fostering a strong sense of belonging among residents. Overall, Royalton represents the quintessential small-town experience with its blend of community spirit and rural charm.

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