Chicago, IL — income, home value, property tax, and sales tax.
ZIP code 60607, on Chicago's Near West Side, ranks among the city's more affluent pockets, with a median household income of $127,732 and per-capita income of $92,329. Homes here carry a median value of $499,700, and Cook County's 1.91% effective property tax rate means a house at that price generates roughly $9,500 in annual property taxes. Add Chicago's 10.25% combined sales tax, among the highest in the nation, and the cost of living here tilts steeply upward. High earnings offset much of that load, though the tax environment still takes a substantial bite.
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