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Are property taxes not included in this calculation? I have some relatives that live in Illinois and they get hosed about 13,000 a year.

Are property taxes not included in this calculation? I have some relatives that live in Illinois and they get hosed about 13,000 a year.

Possibly not, and property taxes are sky high. We paid $5,400/year on a $230K house that we had to sell for $170K four years after the 2008 housing price collapse.

Mileage varies greatly depending on where you live. If your friends are in a Cook County suburb, they will be hammered to support Chicago proper. Ifthe housing gets cheap enough, the property taxes, though still high, is less expensive than living elsewhere.

So, for instance, you can buy a 1000 sq ft. house in DePue, IL for $80,000. The property taxes are an exorbitant $1,500. The water there is literally undrinkable (state provides bottled water) because of a closed down zinc works (the ultimate Super Fund site ... the whole town). But, the cost of living is cheap.