- Using U.S. Census and Illinois Department of Revenue data, ValuePenguin looked at 15 total sources to determine the overall cost of living in a community, neighborhood safety and home values.
- Mahomet in Champaign County was ranked the best city for homeowners in Illinois, ranking no. 44 for taxes and insurance, no. 77 for price and no. 74 for jobs and economy.
- Other top ranking cities in the state of Illinois include Edwardsville, Morton, Oblong and Effingham.
Ever wonder what cities are the best for homeowners in Illinois?
ValuePenguin, a personal finance company, recently released its detailed ranking of cities in the Land of Lincoln based on their attractiveness to homeowners. Including 259 cities and villages throughout the state, the list ranking is based on 15 data points from six sources, including the U.S. Census Bureau and the Illinois Department of Revenue.
The three major categories considered for the ranking were taxes and insurance, price and jobs and economy.
Mahomet in Champaign County ranked in the no. 1 spot for homeowners in Illinois. The rural community is home to 7,730 residents, and its population has been steadily growing since the 90s, according to statistics from the U.S. Census Bureau. The community ranked no. 44 for taxes and insurance, no. 77 for price and no. 74 for jobs and economy.
The top five was rounded out with Edwardsville, Morton, Oblong and Effingham. Some of the worst cities for homeowners include Herscher, Tonica, Momence, Lewistown and Elburn, according to the list.
Unfortunately for city dwellers, Chicago or Cook County didn’t appear on the list of top cities at all. It did, however, make an appearance in the bottom five. Chicago ranks no. 258 out of 259 for homeowners insurance, at a rate of $2,354.
Overall, the Midwest’s largest city ranked no. 246 on the list of the best cities to call home in Illinois. The metro ranked no. 249 for taxes and insurance, no. 180 for price and no. 109 for jobs and the economy.
Best cities for homeowners’ income
While Cook County didn’t make the list of best counties for Illinois homeowners, its surrounding counties did. Lake, DuPage, Kendall, McHenry and Will counties — all Chicagoland communities — rounded out the five best. Unsurprisingly, wealthy Lake County ranked in the no. 1 spot, with a median income of $95,080.
Alexander ranked in the last spot, with a median income of $34,452, followed by Franklin, Pike, Johnson and Edwards.
Best cities for insurance costs
Bloomington ranks as the best city in the state for homeowners’ insurance, with a rate of $1,179. Better known for neighboring Bloomington-Normal, or the home of Illinois State University, Bloomington ranked no. 24 on the total list.
On the other end of the spectrum, the least favorable cities for homeowners’ insurance include Marion, Chicago, West Frankfort, Tonica and Sidell.
Best cities for prices
Illinois homebuyers looking for a deal on their property can turn to Rochelle in Ogle County, west of Chicago and south of Rockford, where the median price per square foot is $37.
The most expensive place to buy a home in Illinois is Winnetka, just north of the city along Lake Michigan, with a median price per square foot of $407. Neighbors to the north and south, Glencoe and Wilmette, ranked in the next two spots as being most expensive, with a median price per square foot of $354 and $335. Hinsdale and River Forest also ranked as the most expensive.