Housing costs in Summit?
A typical home costs
$213,200, which is 36.9% less expensive than the national average of
$338,100 and 11.8% less expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Summit costs
$1,050 per month, which is 26.6% cheaper than the national average of
$1,430 and 20.0% cheaper than the state average of
$1,260.
Can I afford Summit?
To live comfortably in Summit (zip 60501), Illinois, a minimum annual income of
$40,680 for a family, and
$36,400 for a single person is recommended.
What does A.I. say about Summit?
The cost of living in 60501 Summit, IL is significantly higher than the national average. According to BestPlaces, the Median rent for a 1-bedroom apartment in 60501 is approximately $1,000 per month, and the median price for a 3 bedroom house is around $1,400. Groceries and restaurant costs are also more expensive than most places in the US. In addition to this, utilities such as electricity and water can be costly too. Despite these expenses, many people choose to live in 60501 due to its proximity to downtown Chicago and other nearby attractions.