Quick facts: Pana, IL

Quick Facts

102.4
Cost of Living
above US average
5,093
Population
19.24
Crime Rate per 1000
below US average
$47,763
Median Income
below US average
$54,900
Median House Price
above US average
$525.0
Average Rent
below US average
10%
Poverty Rate
below US average
5.2%
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 $47,763.

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Income Needed to Buy

βœ“ Affordable
$17k/year
Based on $54,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($47,763) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$22k/year
Based on $525.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($47,763) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Pana, IL

Pana, located in Christian County, Illinois, is a small city with a rich history and a tight-knit community atmosphere. Established in the mid-19th century, Pana was originally a railroad town, which contributed significantly to its growth and development. The city's picturesque downtown area features a mix of historic buildings and local businesses, providing a charming setting for both residents and visitors. Pana is known for its vibrant community events, including the annual Pana Sweetcorn Festival, celebrating the region's agricultural heritage. The city offers various recreational opportunities, with parks, sports facilities, and access to outdoor activities like fishing and hiking. Culturally, Pana is characterized by its friendly residents and active community organizations that foster a sense of belonging. The area supports local schools, making it a family-friendly place to live. Overall, Pana, IL, embodies the spirit of small-town America, providing a peaceful lifestyle with a strong community focus.

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