The typical owner-occupied home in Clay County is worth about $97,400, 63% below the Illinois median of $263,300 and 71% below the national median of $332,700. Owners pay a median $1,392 a year in property taxes, about 1.43% of their home's value, lower than the Illinois rate of 2.01%. The median household earns $60,417 a year, so the median home costs 1.6 times the median income (3.2 times for Illinois). 79% of occupied homes here are lived in by their owners, and 50% of those owners still have a mortgage.
Clay County at a glance
| Clay County | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $97,400 | $263,300 | $332,700 |
| Median property tax paid per year | $1,392 | $5,298 | $3,119 |
| Property tax as a share of value | 1.43% | 2.01% | 0.94% |
| Median household income | $60,417 | $83,390 | $80,734 |
| Homes lived in by their owners | 79% | 67% | 65% |
| Owner homes with a mortgage | 50% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,175 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 19.4% | 20.6% | 21.0% |
| Median rent | $735 | $1,274 | $1,413 |
| Rent as a share of renters' income | 19.4% | 29.1% | 30.6% |
| Median year homes were built | 1972 | 1971 | 1980 |
| Vacant homes | 13.9% | 7.7% | 10.1% |
| People below the poverty line | 17.5% | 11.8% | 12.5% |
| Population | 13,052 | 12,694,798 | 334,922,499 |
Household budgets and debt in Clay County
In Clay County, the typical owner with a mortgage spends 19.4% of household income on housing and the typical renter spends 19.4%. Above 30% is generally considered cost-burdened, which leaves less room for other debts.
17.5% of residents live below the federal poverty line, compared with 11.8% in Illinois.
If debts are getting hard to manage, the usual options, from mildest to most serious, are: a budget and a call to your lenders to ask for a hardship plan; a debt management plan through a nonprofit credit counselor, which can lower interest rates; a debt consolidation loan or, for homeowners, a cash-out refinance or home equity loan; debt settlement, where a company negotiates to pay less than you owe; and bankruptcy.
Under the Federal Trade Commission's rules, debt settlement companies can't charge a fee until they have settled at least one of your debts. Settling can hurt your credit and forgiven debt may be taxable, so compare it with credit counseling first. Time limits for collectors to sue differ by state and by type of debt; check with your state attorney general or a lawyer before relying on one.
Homeowners can sometimes pay off high-interest debt with their home's equity. With the median Clay County home worth $97,400 and 50% of owners mortgage-free, many owners have equity to draw on, but it turns unsecured debt into debt secured by your home.
Questions about debt relief in Clay County
What is the median home value in Clay County?
About $97,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Clay County?
Homeowners pay a median $1,392 a year, which is about 1.43% of the median home value. Your bill depends on your home's assessed value and local rates.
How much of their income do Clay County households spend on housing?
With a median household income of $60,417, owners with a mortgage spend a median 19.4% on housing and renters 19.4%.
More about Clay County
- Mortgage Refinance in Clay County
- Home Buying in Clay County
- Home Equity Loans in Clay County
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data