Median Living Costs
Aurora has a lower cost of living compared to the state of Illinois. According to City-Data, a website that creates detailed, informative profiles of every city in the U.S. using a variety of government and private sources, Aurora has a higher median income than the Illinois median, yet their estimated housing values are lower than the Illinois median. Aurora’s median household income in 2016 was $66,540, and it was $60,960 for the state of Illinois. Aurora’s median house or condo value in 2016 was $176,200, while the Illinois median was $186,500. Listed below are some other housing costs for Aurora, IL.
$207,046
all housing units
$222,257
detached houses
$164,389
townhomes or
attached units
$1,087
median rent
Aurora ranked 1st in “TOP 10 AFFORDABLE TOWNS WITH THE BEST SCHOOLS”
According to an article published by Realtor.com, Aurora, IL is the #1 cheapest town to live in with the best elementary schools. Realtor.com found the best elementary schools by looking at rankings by GreatSchools, a rating website for public and private schools. Any school that received at least an 8/10 by GreatSchools was considered. Realtor.com’s economics team then compiled housing costs by looking at mortgage payments, taxes, rents, etc. of an area and factored in the median salary of each area to make sure these numbers lined up. With a median home list price of $259,900 in zip code 60503 and three elementary schools that received a 10/10 by GreatSchools, Aurora made the top of the list. The three schools receiving a 10/10 in Aurora were: Homestead Elementary School, Wheatlands Elementary School, and Wolfs Crossing Elementary School. This article shows that you don’t have to sacrifice education, among other things, if your budget calls for cheaper living.
You can read the whole article here.