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Glencoe, IL Real Estate

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Glencoe Real Estate Market Facts

  • $891,300Median home price
    410% higher than Illinois
  • $1,233Median rent asked
    33% higher than Illinois
  • 93.8%Home owners
    42% higher than Illinois
  • 2.4People per home
    6% lower than Illinois
Above, you will see a summary of real estate in Glencoe, IL. On average, homes in Glencoe, IL cost $891,300, a value that is 410% higher than the average in Illinois. In general terms, this results in Glencoe, IL real estate being less affordable than Illinois real estate. On average, people who rent houses in Glencoe, IL pay $1,233; this value is 33% higher than the average amount renters pay in Illinois. 93.8% of Glencoe, IL residents own their own homes and, on average, each of the homes has 2.4 occupants. Glencoe, IL real estate features a range of homes, which include everthing from large houses to small condos to stacked townhomes. Accessing real estate listings and homes that are up for sale in Glencoe, IL is easy because in our search area shown above, we categorize real estate and homes based on location, price, and the number of bedrooms and bathrooms.

Glencoe Home Affordability

  • $891,300Median home price
    410% higher than Illinois
  • $185,320Median home income
    213% higher than Illinois
  • 4.8xHome price to income ratio
    63% higher than Illinois
It’s advisable to look at home affordability when trying to find the ideal place to find real estate in Glencoe, IL. To estimate home affordability, one method is to use the ratio of home price to median household income. The Glencoe, IL’s median home price stands at $891,300 while $185,320 is the value of the average household income. The resulting home price to income ratio, which is 4.8x, differs from the Illinois average as the ratio is 63% higher than the state’s average. The average home price divided by the median home income results in the home affordability ratio. Considering the comparison between the home price and home income, homes in Glencoe, IL are considered less expensive if the ratio of home price to income is lower. Besides the home price to median household income ratio, other considerable factors do apply in determining home affordability. Using the home affordability calculator displayed below can help determine the exact price that suits any budget when searching for real estate in Glencoe, IL.

Glencoe Affordability Calculator

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Are you looking for real estate in Glencoe, IL? Be careful not to purchase a home outside of your budget. A home affordability calculator lets you input your income, down payment, and debts to figure out how much you can afford to spend on your new home. If you know further information, such as mortgage term and rate or insurance, taxes, and HOA dues, you can input that as well to get a better estimate of the total cost. The calculator will show you the maximum amount you can afford to spend on a home. With that number in mind, you can start looking for a home in Glencoe, IL and avoid homes that don’t fit in your budget to guard yourself from an emotional, yet costly, decision. Thanks to the home affordability calculator, you can also create a stronger budget plan. Once you know your housing costs, you can figure out how much money you should spend and how much money you can save.

Glencoe Mortgage Calculator

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What will I pay monthly if I buy real estate in Glencoe, IL? Determining the monthly payment amount of a home is based on a number of different factors. Obviously, the most significant variable is the overall price of the house, but there are also other considerations to make such as homeowners insurance, the interest rate, amount of the down payment, property taxes, private mortgage insurance (PMI), and even home owner's association dues. A great way to eliminate the PMI is by paying 20% of the cost of the house as a down payment. The mortgage calculator is filled out with default values for these variables, but they can be reset to give you a more accurate payment amount. The best rule when it comes to house payments is that you want to keep your debt to income ratio at no more than 36%. This means paying no more than 36% of your monthly income on your housse and all other debt payments.

Glencoe Demographics

  • 8,870Population
  • 2,385People / sq mile
  • 44.6Median age
  • 1.0:1Male/Female ratio

Nearby cities with low home prices

City, StatePopulationHome PriceNational Avg.
North Chicago, IL30,023$106,50042%
Franklin Park, IL18,290$171,3007%
Wheeling, IL38,008$176,0005%
Schiller Park, IL11,813$178,2004%
River Grove, IL10,248$188,7002%
Glencoe, IL8,870$891,300383%

Cities with similar population

City, StatePopulationHome PriceNational Avg.
Quakertown, PA8,869$178,6003%
Molalla, OR8,867$207,20012%
Thompsonville, CT8,873$178,4003%
Selma, TX8,866$164,80011%
Succasunna, NJ8,874$387,400110%
Glencoe, IL8,870$891,300383%
Source: The Glencoe, IL housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).
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