Chicago, IL — income, home value, property tax, and sales tax.
In Chicago's 60657 ZIP code, median household income of $110,939 meets a median home value of $537,800, and the county's 1.91% effective property tax rate means annual bills can climb well into five figures on a home at that price. Per-capita income sits at $95,396. Sales tax adds 10.25% to purchases. The relationship between earnings and housing costs here hinges on that property tax rate, which takes a meaningful share of income once a mortgage is factored in, even at these income levels.
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