Chicago, IL — income, home value, property tax, and sales tax.
In ZIP code 60640, on Chicago's North Side, households earn a median of $73,254, while per-capita income reaches $59,806. A median-valued home here costs $370,300, and the county-level property tax rate of 1.91% works out to roughly $7,073 a year for that home. Sales taxes add another layer: Chicago's combined rate of 10.25% applies to most purchases. Together, these figures sketch a fairly costly environment — housing prices and tax rates both run high, so a household's income stretches less far than the raw dollar amounts might imply.
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