Chicago, IL — income, home value, property tax, and sales tax.
In ZIP code 60472, near Chicago, households bring in a median of $40,668 a year, with per-capita income at $22,183. A median home value of $121,300 carries an effective property tax rate of 1.91% at the county level, which works out to a meaningful annual bill on that price. Add a combined sales tax of 9.00% on purchases, and the squeeze shows up twice: once on the home, again at the register. With incomes at this level, both taxes take a noticeable bite out of what families can set aside or spend.
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