Much like other places in this area, it's a bit less expensive compared to the US as a whole. However it's a lot less expensive compared to the city of Chicago.
Home prices
The median home in Summit costs $170,800. In comparison to other places in this area it is is very similar.It is roughly $46,700 (21%) lower compared to the nation as a whole, and in comparison to the city of Chicago it is roughly $87,200 (33%) lower.
Rents
Summit's median monthly rent is $874. This is about $255 (22%) lower in comparison to nearby areas.Compared to the US as a whole it is approximately $188 (17%) lower, and compared to the city of Chicago is approximately $238 (21%) lower.
Nearby places
McCook
McCook is Summit's neighbor to the northwest. Its housing prices are significantly more expensive. The median home in McCook costs $280,800, which works out to $110,000 (39%) higher than Summit. The rent there is somewhat more expensive. The median rent in McCook is $1,109 a month, which is $235 (21%) higher than Summit.
Lyons
Lyons is Summit's neighbor to the north. The real estate prices there are fairly similar. The cost of the median home in Lyons is $169,800, which is very similar to Summit. The rent there is somewhat more expensive. Lyons's median rent is $976 per month, which is $102 (10%) higher than Summit.
Forest View
Forest View is Summit's neighbor to the northeast. The housing prices there are a bit more expensive. The median home in Forest View is valued at $194,900, which comes out to $24,100 (12%) higher than Summit. Its rents are a lot more expensive. Forest View's median rent is $1,550 per month, which comes out to $676 (43%) higher than Summit.
Hodgkins
Hodgkins is about 2 miles southwest from Summit. Its housing prices are significantly less expensive. The value of the median home in Hodgkins is $34,800, which comes out to $136,000 (390%) lower than Summit. The rent there is somewhat more expensive. Hodgkins's median rent is $941 a month, which works out to $67 (7%) higher than Summit.
Justice
Justice is approximately 2 miles south from Summit. The real estate prices there are a little more expensive. The value of the median home in Justice is $180,600, which is $9,800 (5%) higher than Summit. The rent there is a little more expensive. The median monthly rent in Justice is $1,069, which comes out to $195 (18%) higher than Summit.
