Quick facts: Channahon, IL

Quick Facts

102.4
Cost of Living
above US average
13,926
Population
6.39
Crime Rate per 1000
below US average
$112,771
Median Income
above US average
$439,000
Median House Price
above US average
$2900.0
Average Rent
above US average
4%
Poverty Rate
below US average
4.2%
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 $112,771.

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Income Needed to Buy

βœ— Stretch
$138k/year
Based on $439,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $138k vs median $112,771
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Income Needed to Rent

⚠ Stretch
$124k/year
Based on $2900.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $124k vs median $112,771
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Channahon, IL

Channahon is a charming village located in Will and Grundy Counties in the state of Illinois. Positioned approximately 50 miles southwest of downtown Chicago, it offers a suburban feel with easy access to big-city amenities. Channahon is known for its picturesque landscapes, characterized by scenic rivers and parks, making it an appealing destination for outdoor enthusiasts. The village has a rich history, initially established as a trading hub in the 1800s, and today it features a mix of residential neighborhoods and local businesses. The historic I&M Canal runs through Channahon, providing opportunities for boating, kayaking, and hiking along its trails. The community is also home to several parks, including the popular Channahon State Park, where visitors can enjoy various recreational activities year-round. Channahon has a tight-knit community with a strong emphasis on family-friendly events and activities, including seasonal festivals and farmers' markets. The village is served by well-regarded schools, which adds to its appeal for families looking to settle in a safe and welcoming environment. Overall, Channahon combines the tranquility of small-town life with the convenience of nearby urban resources.

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