Chicago, IL — income, home value, property tax, and sales tax.
In ZIP code 60521, near Chicago, homes carry a median value of $1,032,800, and the county-level effective property tax rate of 2.05% translates into a substantial annual bill. Households here earn a median of $249,200, with per-capita income at $119,640, so the tax load is absorbed against unusually high earnings. Sales tax adds 9.00% to purchases. The relationship between steep home prices and strong incomes keeps ownership within reach for many buyers, though the property tax line remains a major recurring cost that shapes what households can set aside.
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