Housing costs in New Memphis?
A typical home costs
$177,100, which is 47.6% less expensive than the national average of
$338,100 and 26.7% less expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in New Memphis costs
$1,070 per month, which is 25.2% cheaper than the national average of
$1,430 and 17.8% cheaper than the state average of
$1,260.
Can I afford New Memphis?
To live comfortably in New Memphis (zip 62266), Illinois, a minimum annual income of
$33,840 for a family, and
$34,000 for a single person is recommended.
What does A.I. say about New Memphis?
The cost of living in 62266 New Memphis, IL is relatively low compared to other places in the country. The median household income is $50,788 per year and the median home value is $82,200. This means that those living in and around this area can expect to spend an average of about 20% of their incomes on housing costs. Additionally, food prices are generally low as well with a variety of grocery stores offering plenty of options for those looking to save money. Additionally, gas prices remain comparatively low and transportation costs are also fairly inexpensive. Overall, 62266 New Memphis, IL remains an affordable place to live despite its close proximity to larger cities like St Louis and Chicago.