Community Corner
Niles Among Highest in Paid-Off Homes
Crain's Chicago Business reports a stunning 47.1 percent of Niles homeowners own their homes outright. Morton Grove dazzles also, with 37.3 percent of homeowners being mortgage-free.
Communities with a large segment of senior citizens or high median incomes tend to have the highest percentage mortgage-free homes, according to Crain’s Chicago Business.
According to the Crain's analysis, 8,863 Niles homeowners or 47.1 percent, are mortgage-free. Morton Grove boasts similar numbers with 7,652 homeowners or 37.3 without a home loan. These numbers all well above the Chicagoland average of 26 percent of homeowners being mortgage-free.
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If you own a home, are you still paying off your mortgage? When will you be mortgage-free?
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