Quick facts: Shumway, IL

Quick Facts

102.4
Cost of Living
above US average
182
Population
27.47
Crime Rate per 1000
above US average
$83,750
Median Income
above US average
$329,900
Median House Price
above US average
$1707
Average Rent
above US average
7%
Poverty Rate
below US average
3.2%
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 $83,750.

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Income Needed to Buy

βœ— Stretch
$103k/year
Based on $329,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $103k vs median $83,750
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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 ($83,750) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Shumway, IL

Shumway is a small village located in Effingham County, Illinois. With a modest population, Shumway is characterized by its rural charm and tight-knit community atmosphere. It is situated about 10 miles northeast of the city of Effingham, which serves as the nearest urban center offering additional amenities and services. The village is primarily residential, featuring a mix of single-family homes and agricultural properties. Surrounded by lush farmland, Shumway reflects the scenic beauty of Central Illinois, making it an ideal place for those who appreciate a quiet, country lifestyle. The area is known for its friendly residents and community events that foster a strong sense of belonging. In terms of local attractions, while Shumway itself may not boast extensive recreational facilities, nearby Effingham offers parks, shopping, and dining options. The economy is largely supported by agriculture, small businesses, and commuting to neighboring cities for work. Overall, Shumway provides a peaceful retreat with a picturesque rural landscape, making it perfect for those looking to escape the hustle and bustle of urban life.

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