Chicago, IL — income, home value, property tax, and sales tax.
In ZIP code 60501, near Chicago, homes carry a median value of $234,300, and the county-level property tax rate of 1.91% works out to roughly $4,475 a year for a home at that price. With median household income at $63,244, that tax bill equals about 7% of annual earnings before any mortgage payment. Per-capita income sits at $33,970. Sales tax adds another 9.00% on purchases. Together these costs shape how far a paycheck stretches for anyone buying here.
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