The typical owner-occupied home in Smithboro is worth about $67,700, 74% below the Illinois median of $263,300 and 80% below the national median of $332,700. Owners pay a median $950 a year in property taxes, about 1.40% of their home's value, lower than the Illinois rate of 2.01%. The median household earns $44,375 a year, so the median home costs 1.5 times the median income (3.2 times for Illinois). 87% of occupied homes here are lived in by their owners, and 52% of those owners still have a mortgage.
Smithboro at a glance
| Smithboro | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $67,700 | $263,300 | $332,700 |
| Median property tax paid per year | $950 | $5,298 | $3,119 |
| Property tax as a share of value | 1.40% | 2.01% | 0.94% |
| Median household income | $44,375 | $83,390 | $80,734 |
| Homes lived in by their owners | 87% | 67% | 65% |
| Owner homes with a mortgage | 52% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,286 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 22.2% | 20.6% | 21.0% |
| Median rent | – | $1,274 | $1,413 |
| Median year homes were built | 1967 | 1971 | 1980 |
| Vacant homes | 13.8% | 7.7% | 10.1% |
| Population | 164 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Smithboro
At this week's average 30-year rate of 7.11%, buying the median Smithboro home of $67,700 with 20% down costs about $472 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $584, 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 $20,208 for the 20%-down payment. That payment is 13% of the median Smithboro household income of $44,375; at that income and 20% down, the 28% guideline points to a home of about $149,000.
| Down payment | $13,540 |
|---|---|
| Loan amount | $54,160 |
| Principal and interest | $364 |
| Property taxes (1.40% a year) | $79 |
| Homeowners insurance (our estimate, 0.5% a year) | $28 |
| PMI | $0 |
| Total per month | $472 |
Change the numbers in the calculator
| Down payment | $2,370 |
|---|---|
| Loan amount | $66,474 |
| Principal and interest | $447 |
| Property taxes (1.40% a year) | $79 |
| Homeowners insurance (our estimate, 0.5% a year) | $28 |
| FHA mortgage insurance | $30 |
| Total per month | $584 |
Change the numbers in the calculator
Questions about home buying in Smithboro
What is the median home value in Smithboro?
About $67,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Smithboro?
Homeowners pay a median $950 a year, which is about 1.40% 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 Smithboro?
For the median home with 20% down at 7.11%, the payment is about $472 a month. Keeping that under 28% of gross income takes about $20,208 a year.
More about Smithboro
- Mortgage Refinance in Smithboro
- Debt Relief in Smithboro
- Home Equity Loans in Smithboro
- 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