Chicago, IL — income, home value, property tax, and sales tax.
In ZIP code 60453, near Chicago, homes carry a median value of $281,200, and the county-level effective property tax rate of 1.91% works out to roughly $5,371 a year in taxes on such a home. With median household income at $83,911, that bill absorbs about 6.4% of annual earnings, a meaningful slice of the budget. Per-capita income sits at $41,927, so single earners feel the pinch more sharply. Add the 9.00% combined sales tax on everyday purchases, and the overall cost of living here leans on homeowners steadily.
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