The typical owner-occupied home in Olive Branch is worth about $61,500, 77% below the Illinois median of $263,300 and 82% below the national median of $332,700. Owners pay a median $1,065 a year in property taxes, about 1.73% of their home's value, lower than the Illinois rate of 2.01%. 89% of occupied homes here are lived in by their owners, and 14% of those owners still have a mortgage.
Olive Branch at a glance
| Olive Branch | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $61,500 | $263,300 | $332,700 |
| Median property tax paid per year | $1,065 | $5,298 | $3,119 |
| Property tax as a share of value | 1.73% | 2.01% | 0.94% |
| Median household income | – | $83,390 | $80,734 |
| Homes lived in by their owners | 89% | 67% | 65% |
| Owner homes with a mortgage | 14% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,089 | $1,987 | $1,963 |
| Median rent | – | $1,274 | $1,413 |
| Median year homes were built | 1980 | 1971 | 1980 |
| Vacant homes | 21.1% | 7.7% | 10.1% |
| Population | 499 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Olive Branch
At this week's average 30-year rate of 7.11%, buying the median Olive Branch home of $61,500 with 20% down costs about $445 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $548, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $19,083 for the 20%-down payment.
| Down payment | $12,300 |
|---|---|
| Loan amount | $49,200 |
| Principal and interest | $331 |
| Property taxes (1.73% a year) | $89 |
| Homeowners insurance (our estimate, 0.5% a year) | $26 |
| PMI | $0 |
| Total per month | $445 |
Change the numbers in the calculator
| Down payment | $2,152 |
|---|---|
| Loan amount | $60,386 |
| Principal and interest | $406 |
| Property taxes (1.73% a year) | $89 |
| Homeowners insurance (our estimate, 0.5% a year) | $26 |
| FHA mortgage insurance | $27 |
| Total per month | $548 |
Change the numbers in the calculator
Questions about home buying in Olive Branch
What is the median home value in Olive Branch?
About $61,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Olive Branch?
Homeowners pay a median $1,065 a year, which is about 1.73% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Olive Branch?
For the median home with 20% down at 7.11%, the payment is about $445 a month. Keeping that under 28% of gross income takes about $19,083 a year.
More about Olive Branch
- Mortgage Refinance in Olive Branch
- Debt Relief in Olive Branch
- Home Equity Loans in Olive Branch
- 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