Today I watched a slideshow on Forbes for America’s most overpriced suburbs. It went by various regions. The Midwest included Cicero, Skokie, and Arlington Heights. This is what it had to say about Arlington Heights:
Median home price: $368,300
Median household income: $71,366
Gross income to buy house: 5.2 years
Located to the northwest of Chicago, Arlington Heights is about 30 miles from the downtown area, making it a reasonable commute. An affluent area, it's well within the range of median households to afford the average home, assuming they can put together the down payment. Arlington Heights lands here because of its size, almost 80,000, making it one of the larger Illinois suburbs with a relatively diverse population. In any region besides the Midwest, it'd be one of the most affordable.
So, I found this particularly funny that the 3 most overpriced suburbs in the Midwest are all Chicago suburbs. I’m glad my family resides in an “affordable” community that has all the same great benefits of Arlington Heights.
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