Housing costs in Penfield?
A typical home costs
$136,200, which is 59.7% less expensive than the national average of
$338,100 and 43.6% less expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Penfield costs
$880 per month, which is 38.5% cheaper than the national average of
$1,430 and 43.2% cheaper than the state average of
$1,260.
Can I afford Penfield?
To live comfortably in Penfield (zip 61862), Illinois, a minimum annual income of
$25,920 for a family, and
$29,600 for a single person is recommended.
What does A.I. say about Penfield?
Living in 61862 Penfield, IL is relatively affordable compared to other larger cities. The median home value in the area is $88,300, which is lower than the US median home value of $196,500. Rent also tends to be below average, with a median rent price of $877 per month. Utility costs are very reasonable and range from around $100 to $200 depending on usage levels. Groceries and other necessities such as gas and medical care are all reasonably priced. All in all, 61862 Penfield offers an affordable cost of living while offering access to many amenities found in larger cities like nearby Champaign-Urbana.