Quick facts: Naperville, IL

Quick Facts

115.0
Cost of Living
above US average
149,936
Population
8.6
Crime Rate per 1000
below US average
$143,754
Median Income
above US average
$729,900
Median House Price
above US average
$2548.22
Average Rent
above US average
5%
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 $143,754.

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Income Needed to Buy

βœ— Stretch
$229k/year
Based on $729,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $229k vs median $143,754
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Income Needed to Rent

βœ“ Affordable
$109k/year
Based on $2548.22/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($143,754) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Naperville, IL

Naperville, located in the western suburbs of Chicago, Illinois, is known for its vibrant community, rich history, and family-friendly atmosphere. With a population of approximately 148,000, it consistently ranks as one of the best places to live in the U.S. The city boasts a charming downtown area filled with restaurants, shops, and the picturesque Riverwalk, which features scenic paths along the DuPage River. Education is a cornerstone of Naperville, with top-rated schools and institutions such as North Central College contributing to the area's appeal. The city also hosts numerous parks and recreational facilities, including the popular Centennial Beach and several golf courses. Transportation is convenient, with easy access to major highways and Metra train services connecting residents to Chicago. Naperville's economy is diverse, featuring a blend of retail, healthcare, and technology sectors. Cultural events, festivals, and a strong sense of community make Naperville a desirable place for families and individuals alike. Overall, Naperville combines suburban charm with urban amenities, making it a vibrant destination in the Chicagoland area.

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