Quick facts: Belvidere, IL

Quick Facts

102.4
Cost of Living
above US average
25,169
Population
12.83
Crime Rate per 1000
below US average
$59,216
Median Income
below US average
$269,900
Median House Price
above US average
$1550.0
Average Rent
above US average
12%
Poverty Rate
above US average
8.4%
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 $59,216.

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Income Needed to Buy

βœ— Stretch
$85k/year
Based on $269,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $85k vs median $59,216
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Income Needed to Rent

⚠ Stretch
$66k/year
Based on $1550.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $66k vs median $59,216
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Belvidere, IL

Belvidere, located in Boone County, Illinois, is a charming city recognized for its inviting small-town atmosphere and rich history. With a population of approximately 25,000 residents, Belvidere offers a blend of suburban convenience and rural tranquility. The city is conveniently situated just 70 miles northwest of Chicago, making it a feasible location for commuters. Belvidere is celebrated for its historic downtown area, featuring a variety of shops, eateries, and cultural attractions. The city is also home to the iconic BOONE County Courthouse, a stunning example of 19th-century architecture. Outdoor enthusiasts can enjoy parks such as the scenic Belvidere Park and the nearby Kishwaukee River, which offer recreational opportunities like hiking, fishing, and picnicking. The community hosts several annual events, including the Belvidere Corn Fest, which draws visitors from surrounding areas to celebrate local culture and agriculture. With a strong school system and a family-friendly environment, Belvidere remains an appealing destination for those seeking a balanced lifestyle in a supportive community.

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