View Full Version : May be moving to Chicago area but considering Kenosha WI instead because of house pricing, Any


kingfishgrapejam
01-05-2008, 11:42 PM
advantage of living in WI instead of IL? I will probably be able to office out of kenosha as well but will have to hit O'hare at least once a month. And visit Chicago south and west suburbs regularly.

Any input is appreciated

coasTTal
01-06-2008, 04:29 AM
Check state tax rates. I think car insurance is cheaper in WI.

I am planning on moving from Dupage county. Most expensive place in the country to live excepting New York City.

JasonS4+Festicle
01-06-2008, 05:25 AM
home prices.

The state income tax is double in WI though (6% vs 3%). That is a big advantage of staying in IL. There are tons of places to live up north though (in the Gurnee area).

So, depending on how high your income is, the benefit of getting a cheaper house is quickly gone when you pay twice the state income tax.

You can figure it all out depending on what you earn but be careful about getting all excited saving $100,000 on a house. That $100,000 less on your mortgage might save you $600/mo but you could be paying $800/mo more in state income tax.

Press
01-06-2008, 05:44 AM
i'd think cali is much more expensive than here

PaulW
01-06-2008, 06:01 AM
You have pimped your garage so much!

:-)

Press
01-06-2008, 06:12 AM

DaveyKid
01-06-2008, 06:56 AM
Rank
ZIP Code
Location
County
State
2005 Median Sale Price ($)

1
11962 Sagaponack Suffolk NY
2,787,500
2
92067 Rancho Santa Fe San Diego CA
2,445,000
3
92662 Newport Beach Orange CA
2,397,500
4
94528 Diablo Contra Costa CA
2,266,000
5
94957 Ross Marin CA
2,247,500
6
11976 Water Mill Suffolk NY
2,150,000
7
93108 Santa Barbara Santa Barbara CA
2,050,000
8
90402 Santa Monica Los Angeles CA
2,005,000
9
92661 Newport Beach Orange CA
1,996,500
10
33109 Miami Beach Miami-Dade FL
1,942,500

skabaru
01-06-2008, 12:14 PM

skabaru
01-06-2008, 12:15 PM

JasonS4+Festicle
01-06-2008, 01:31 PM
and don't seem to realize the income part tax is a big deal.

Even if you need to take out a larger mortgage in IL to cover the diff in home price, at least you're writting off the interest and building some equity. Not much equity in paying uncle sam:)

Shameless in Chicago
01-06-2008, 08:42 PM

kingfishgrapejam
01-06-2008, 10:21 PM
For instance, Where I live now, PA, has a 3% state wage tax but the City of Scranton also has 3.3% wage tax.

JasonS4+Festicle
01-07-2008, 05:31 AM

skabaru
01-07-2008, 09:47 AM
but if you factor in the other pieces it might work out... but I understand... people get a bit eager and don't always run the numbers...