Quick facts: Tinley park, IL

Quick Facts

102.4
Cost of Living
above US average
54,287
Population
12.97
Crime Rate per 1000
below US average
$99,628
Median Income
above US average
$340,000
Median House Price
above US average
$2691.96
Average Rent
above US average
5%
Poverty Rate
below US average
5.7%
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 $99,628.

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Income Needed to Buy

βœ— Stretch
$107k/year
Based on $340,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $107k vs median $99,628
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Income Needed to Rent

⚠ Stretch
$115k/year
Based on $2691.96/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $115k vs median $99,628
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Tinley park, IL

Tinley Park is a vibrant suburb located southwest of Chicago in Cook and Will Counties, Illinois. With a population of around 56,000, it offers a mix of residential living, commercial developments, and recreational opportunities. The village is known for its family-friendly atmosphere, featuring numerous parks, schools, and community events throughout the year. Tinley Park boasts a rich history dating back to the 19th century and has transformed into a thriving community with a blend of small-town charm and modern amenities. The downtown area is alive with shops, restaurants, and entertainment venues, catering to a diverse range of tastes. One of the town's highlights is the 80-acre Tinley Park Convention Center, which hosts events and conferences, drawing visitors from outside the area. Outdoor enthusiasts can enjoy the numerous parks with walking trails, sports facilities, and picnic areas. Tinley Park is also conveniently located near major highways and public transportation, making it easy to access Chicago and the surrounding suburbs. With its strong sense of community, Tinley Park is ideal for families, professionals, and anyone looking to enjoy suburban life close to a major city.

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