Quick facts: Aurora, IL

Quick Facts

98.7
Cost of Living
below US average
177,866
Population
3.71
Crime Rate per 1000
below US average
$85,943
Median Income
above US average
$229,999
Median House Price
above US average
$1855.0
Average Rent
above US average
12%
Poverty Rate
above US average
6.0%
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 $85,943.

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Income Needed to Buy

βœ“ Affordable
$72k/year
Based on $229,999 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($85,943) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$79k/year
Based on $1855.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($85,943) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Aurora, IL

Aurora, Illinois, is a vibrant city located in the Fox River Valley, about 40 miles west of Chicago. Known for its rich history and cultural diversity, it is the second-largest city in Illinois. Aurora boasts a charming downtown area featuring historic architecture, theaters, and a variety of dining options. The city is also home to the Paramount Theatre, which is renowned for its live performances and Broadway shows. The city's public parks and the scenic Fox River provide ample opportunities for outdoor activities, including hiking, biking, and kayaking. Aurora is home to several annual events, such as the Aurora Art and Artisans Expo, which showcases local artists and craftspeople. Education is a priority in Aurora, with several respected public and private schools, as well as higher education institutions like Aurora University. The city's economy is diverse, with industries ranging from manufacturing to healthcare, contributing to its steady growth. With its friendly community and accessible amenities, Aurora is a great place to live, work, and explore.

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