Quick facts: Wauconda, IL

Quick Facts

102.4
Cost of Living
above US average
13,932
Population
2.37
Crime Rate per 1000
below US average
$108,229
Median Income
above US average
$315,000
Median House Price
above US average
$1608.0
Average Rent
above US average
8%
Poverty Rate
below US average
3.5%
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 $108,229.

🏠

Income Needed to Buy

βœ“ Affordable
$99k/year
Based on $315,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($108,229) exceeds requirement
🏒

Income Needed to Rent

βœ“ Affordable
$69k/year
Based on $1608.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($108,229) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Wauconda, IL

Wauconda, Illinois, is a charming village located in Lake County, approximately 45 miles northwest of Chicago. Known for its picturesque scenery and friendly community, Wauconda boasts a small-town feel while offering access to urban amenities. The village is nestled near the shores of Bangs Lake, providing recreational opportunities such as swimming, fishing, and boating. Wauconda's downtown area features a mix of local shops, restaurants, and services, fostering a vibrant community atmosphere. The annual Wauconda Rodeo and various local festivals contribute to the town's cultural fabric, drawing residents and visitors together. The area is also home to several parks and nature preserves, making it ideal for outdoor enthusiasts. The local school system is well-regarded, adding to the appeal for families. With its rich history, appealing surroundings, and strong sense of community, Wauconda is a desirable place to live and visit, offering both tranquility and connection to nearby urban life.

πŸ” Search & Compare Places

First Location πŸ“