Quick facts: Cicero, IL

Quick Facts

102.4
Cost of Living
above US average
81,919
Population
16.55
Crime Rate per 1000
below US average
$64,325
Median Income
below US average
$315,900
Median House Price
above US average
$1463.97
Average Rent
above US average
14%
Poverty Rate
above US average
6.4%
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 $64,325.

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Income Needed to Buy

βœ— Stretch
$99k/year
Based on $315,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $99k vs median $64,325
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Income Needed to Rent

βœ“ Affordable
$63k/year
Based on $1463.97/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($64,325) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Cicero, IL

Cicero, Illinois, is a vibrant suburb located just southwest of Chicago in Cook County. Known for its rich history and diverse community, Cicero boasts a blend of residential areas, commercial establishments, and parks. This area is approximately 6.5 square miles and has a population of around 85,000 residents, giving it a bustling, urban feel while maintaining suburban elements. Cicero is characterized by its strong cultural influences, particularly from the Hispanic community, which is reflected in local businesses, restaurants, and community events. The town features a number of parks, including the popular Cermak Park, which offers recreational facilities for families and sports enthusiasts alike. The location provides easy access to Chicago via public transportation, making it a convenient spot for commuters. Additionally, Cicero is historically significant as the home of several notable figures, including Al Capone during the Prohibition era. With its rich history, cultural diversity, and convenient access to the Chicago metropolitan area, Cicero serves as a dynamic place to live and work.

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