Chicago, IL — income, home value, property tax, and sales tax.
In ZIP code 60120, near Chicago, households earn a median of $82,449, which works out to $31,506 per person. Homes here are valued at a median of $242,300, and the county-level property tax rate of 1.91% means owners pay roughly $4,628 annually on a home at that price. Add an 8.50% combined sales tax on purchases, and the cost of living reflects both a steady income base and meaningful housing and consumption taxes.
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