Housing costs in Loraine?
A typical home costs
$115,500, which is 65.8% less expensive than the national average of
$338,100 and 52.2% 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 (zip 62349), Illinois, a minimum annual income of
$21,960 for a family, and
$24,800 for a single person is recommended.
What does A.I. say about Loraine?
The cost of living in 62349 Loraine, IL is relatively low compared to other areas in the state. The median home value in this zip code is $80,200, which is lower than the statewide median of $182,500. Additionally, rental rates are also quite affordable with the median rent for a one-bedroom apartment being approximately $600 per month. Other expenses such as groceries and utilities are also on the lower side when compared to surrounding areas. Overall, living in 62349 Loraine, IL can be an affordable option for those looking for a place to reside without breaking their budget.