Chicago, IL — income, home value, property tax, and sales tax.
In ZIP 60305, near Chicago, homes carry a median value of $687,300, and the county-level property tax rate of 1.91% works out to roughly $13,100 a year on such a home. Households earn a median of $146,786, so that tax equals about 9% of income, a meaningful slice even at these earnings. Per-capita income sits at $91,438. Add the 9.00% combined sales tax on purchases, and carrying costs climb further. High home values paired with this rate mean ownership here demands substantial income, and buyers should weigh the annual tax bill alongside the purchase price.
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