Located in the state of Illinois, Algonquin is a mid-sized city with a population of 30,413 residents. If we take a look at the last Census, the vast majority of the population falls within one racial group (87% White). Given that fact, Algonquin could be considered less diverse than other cities. Algonquin has a high percentage of people who are married with children when compared to the rest of the country. In total, more than 85% of the population is classified as married and 52% have kids.
Without the right tools, moving to any new city can be very stressful and challenging. Living in Algonquin, Illinois could be a great experience for anyone who puts in the effort to do the research required. With useful information like amenities, crime, housing and other key data points, finding the best places to live in Algonquin and in the areas around Algonquin is a much easier task.
Algonquin has a livability score of 81 out of 100 and is ranked #8 in Illinois and #1,229 in the USA. Pack your bags! This is a very high score in comparison to other US cities. Living in Algonquin could be a great choice! Algonquin is also ranked in the top 10 percentile of all cities across the USA. If we probe a little deeper into each category within the livability score, we see that Algonquin has higher than average grades for the following: amenities (A+), crime (A+), employment (B-) and housing (B). There is at least one category that did not score well in Algonquin. The following was graded with a concerning score: cost of living (D) and weather (D-).
Conveniently located amenities and interesting attractions are a great way to continuously enjoy Algonquin on a regular basis. Knowing that there are an abundance of amenities and things to do can ensure that you always have access to nearby grocery stores, restaurants and coffee shops.
Feeling a sense of safety in the area that you live in is a must for most people. Low crime rates can have a positive impact on things like home prices, home appreciation rates and the overall sense of community. Algonquin has a violent crime rate of 68 crimes per 100,000 residents which is far lower than the national average.
Based on multiple factors including: median home and rental prices, appreciation rates and home affordability, Algonquin has received high marks in the housing category. Based on these calculations, the apartment rental and real estate market appears to be very healthy.
Assuming that Algonquin meets all of your requirements, the next most important item to examine is the affordability of real estate in Algonquin. Everything else becomes a lot less important if it turns out that home prices in Algonquin are simply unattainable. The median home price for Algonquin homes is $240,600, which is 37.6% higher than the Illinois average. If we take a closer look at the affordability of homes in Algonquin, we’ll see that the home price to income ratio is 2.4, which is 20% lower than the Illinois average. Real estate appreciation rates in Algonquin are important to consider, as they can act as a guide to determine if your new home purchase will be a solid investment going forward. During the last twelve months, the appreciation rate for Algonquin homes comes in at 4.5%, and the 5 year appreciation rates were 6%.