Chicago, IL — income, home value, property tax, and sales tax.
In ZIP 60016, near Chicago, households earn a median of $86,571, or $43,653 per person, while the median home is valued at $320,400. Property taxes run about 1.91% of value at the county level, which works out to roughly $6,120 annually on that median home. Sales tax reaches 10.00% on purchases. Together, these figures sketch a place where incomes sit above many parts of the region, housing costs carry a meaningful annual tax load, and everyday spending faces one of the higher combined sales tax rates.
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