Quick facts: Paris, IL

Quick Facts

102.4
Cost of Living
above US average
8,084
Population
5.69
Crime Rate per 1000
below US average
$50,080
Median Income
below US average
$129,900
Median House Price
above US average
$4500.0
Average Rent
above US average
12%
Poverty Rate
above US average
6.5%
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 $50,080.

🏠

Income Needed to Buy

βœ“ Affordable
$41k/year
Based on $129,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($50,080) exceeds requirement
🏒

Income Needed to Rent

⚠ Stretch
$193k/year
Based on $4500.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $193k vs median $50,080
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Paris, IL

Paris, Illinois, is a small city located in Edgar County, known for its quaint small-town charm and friendly community. With a population of around 8,000 residents, Paris offers a peaceful, rural atmosphere while still providing access to suburban amenities. The city is marked by its historic downtown area, where visitors can find unique shops, local restaurants, and charming architecture. Paris is also home to several parks and recreational facilities, making it a great place for outdoor enthusiasts. The city hosts various annual events, including the Paris Balloon Festival and the Edgar County Fair, which foster a sense of community and celebrate local culture. The nearby Paris Community Hospital serves the health needs of residents, while educational facilities, including Paris High School, provide quality education to the youth. The city's strategic location offers easy access to larger urban centers, making it a convenient place for those seeking a quieter living environment without straying too far from city conveniences. Overall, Paris, IL, embodies a tight-knit community with a rich heritage and a welcoming atmosphere.

πŸ” Search & Compare Places

First Location πŸ“