Area towns ranked among most affordable in Illinois
Towns in our area made a real estate blog’s recent list of the ten most affordable places in Illinois.
Movoto Real Estate says they analyzed more than 200 locations across Illinois that each had a population of more than 10,000 residents. They ranked each community using six criteria: food costs, utility costs, miscellaneous costs (entertainment, shopping and other discretionary spending), median home price, unemployment rank and adjusted median income.
The report says Kewanee ranked number one for food costs and utility costs, and ranked well for unemployment, but didn’t place higher because of income. Kewanee placed 7th in the top-ten rankings.
Washington ranked second, with food costs below the national average and for its low unemployment rate.
Moline rounded out the list of the top ten most affordable locations in Illinois. Moline ranked below the national average for miscellaneous costs, and the city did especially well for the cost of utilities.
East Moline and Rock Island didn’t make the top ten list but came close, ranking nearly as well as Moline. Both communities ranked especially well for the cost of miscellaneous expenses, the cost of utilities and and unemployment. Rock Island also received high marks for the median home prices.
The report ranked the Village of Chatham, in Sangamon County, as the most affordable community in Illinois. The least affordable was Downer’s Grove.
The 10 Most Affordable Places in Illinois By Movoto Real Estate