Quick facts: Hanover park, IL

Quick Facts

102.4
Cost of Living
above US average
36,376
Population
1.32
Crime Rate per 1000
below US average
$88,460
Median Income
above US average
$324,900
Median House Price
above US average
$2188.33
Average Rent
above US average
6%
Poverty Rate
below US average
5.6%
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 $88,460.

🏠

Income Needed to Buy

βœ— Stretch
$102k/year
Based on $324,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $102k vs median $88,460
🏒

Income Needed to Rent

⚠ Stretch
$94k/year
Based on $2188.33/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $94k vs median $88,460
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Hanover park, IL

Hanover Park is a vibrant village located in Cook and DuPage Counties in Illinois. It spans approximately 7.5 square miles and is situated about 30 miles northwest of downtown Chicago. The village is known for its family-friendly atmosphere, featuring numerous parks, recreational facilities, and a diverse array of housing options that cater to various lifestyles. One of the standout features of Hanover Park is its strong sense of community, fostered by various local events and initiatives. The village promotes community engagement through programs like summer concerts in the park, farmers markets, and holiday celebrations. Hanover Park is also conveniently located near major highways, providing easy access to the broader Chicago metropolitan area. Residents enjoy a mix of suburban peace and urban convenience, with shopping centers, restaurants, and entertainment options nearby. Additionally, Hanover Park is served by reputable schools and educational institutions, making it an attractive place for families. The village's commitment to public safety and community services further enhances its appeal, making it a desirable place to live and raise a family in the Chicago area.

πŸ” Search & Compare Places

First Location πŸ“