Quick facts: Arlington heights, IL

Quick Facts

102.4
Cost of Living
above US average
75,195
Population
11.4
Crime Rate per 1000
below US average
$113,502
Median Income
above US average
$380,000
Median House Price
above US average
$2115.76
Average Rent
above US average
5%
Poverty Rate
below US average
5.1%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $113,502.

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Income Needed to Buy

βœ— Stretch
$119k/year
Based on $380,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $119k vs median $113,502
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Income Needed to Rent

βœ“ Affordable
$91k/year
Based on $2115.76/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($113,502) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Arlington heights, IL

Arlington Heights, located in Cook and Lake Counties in Illinois, is a vibrant suburban community just 25 miles northwest of downtown Chicago. Known for its charming tree-lined streets and a strong sense of community, the village offers a mix of residential, commercial, and recreational spaces. With a population of around 75,000, it boasts a rich history dating back to the 19th century. Key attractions include the Arlington Park racetrack, a hub for horse racing enthusiasts, and a variety of parks and outdoor spaces such as the popular Melas Park. The downtown area features an array of shops, restaurants, and cultural venues, making it a lively destination for both locals and visitors. Arlington Heights is also recognized for its excellent school system and access to quality education, contributing to its appeal for families. The village is well-served by public transportation, with Metra rail services connecting residents to Chicago's Loop, enhancing accessibility to the city. Overall, Arlington Heights combines suburban charm with modern amenities, making it a desirable place to live and work.

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