Housing costs in Loraine?
A typical home costs
$100,400, which is 70.3% less expensive than the national average of
$338,100 and 58.5% less expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Loraine costs
$820 per month, which is 42.7% cheaper than the national average of
$1,430 and 53.7% cheaper than the state average of
$1,260.
Can I afford Loraine?
To live comfortably in Loraine, Illinois, a minimum annual income of
$19,080 for a family, and
$24,800 for a single person is recommended.
What does A.I. say about Loraine?
The cost of living in Loraine, IL is generally considered to be quite affordable. The median home value for the town is just under $90,000, which is much lower than the surrounding areas and means that Loraine remains a great place to purchase a first home. Utilities and groceries are also lower in cost here than in other parts of the country, allowing residents to stretch their budgets even further. Local taxes are also on the low side, making it an attractive option for those looking to save money on their monthly expenses.