Quick facts: Smithboro, IL

Quick Facts

102.4
Cost of Living
above US average
151
Population
Crime rate Data is updating, will be available soon
$54,375
Median Income
below US average
$985,000
Median House Price
above US average
$1707
Average Rent
above US average
Poverty rate Data is updating, will be available soon
Unemployment Data is updating, will be available soon

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 $54,375.

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Income Needed to Buy

βœ— Stretch
$309k/year
Based on $985,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $309k vs median $54,375
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Income Needed to Rent

⚠ Stretch
$73k/year
Based on $1707/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $73k vs median $54,375
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Smithboro, IL

Smithboro is a small village located in Bond County, Illinois. With a population of around 400 residents, it offers a tight-knit community atmosphere. The village is characterized by its quiet, rural setting, making it an ideal place for those looking to escape the hustle and bustle of larger urban environments. Smithboro has a rich agricultural background, and the surrounding landscape is primarily made up of farmland and open spaces. The village is conveniently situated near larger towns such as Greenville and Highland, providing residents access to more extensive amenities, shopping, and recreational opportunities. Local attractions may include parks for outdoor activities, small local businesses, and friendly community events. In Smithboro, residents often value the sense of community and the slower pace of life that rural living offers. The village is served by the Bond County Community Unit School District, making it accessible for families with children. Overall, Smithboro, IL, reflects a charming small-town atmosphere steeped in community spirit and tranquility.

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