The typical owner-occupied home in Hamburg is worth about $78,900, 70% below the Illinois median of $263,300 and 76% below the national median of $332,700. The median household earns $47,000 a year, so the median home costs 1.7 times the median income (3.2 times for Illinois). 93% of occupied homes here are lived in by their owners, and 46% of those owners still have a mortgage.
Hamburg at a glance
| Hamburg | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $78,900 | $263,300 | $332,700 |
| Median property tax paid per year | – | $5,298 | $3,119 |
| Median household income | $47,000 | $83,390 | $80,734 |
| Homes lived in by their owners | 93% | 67% | 65% |
| Owner homes with a mortgage | 46% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $950 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 24.0% | 20.6% | 21.0% |
| Median rent | – | $1,274 | $1,413 |
| Median year homes were built | 1938 | 1971 | 1980 |
| Vacant homes | 61.6% | 7.7% | 10.1% |
| Population | 68 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Hamburg
At this week's average 30-year rate of 7.11%, buying the median Hamburg home of $78,900 with 20% down costs about $530 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $661, 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 $22,706 for the 20%-down payment. That payment is 14% of the median Hamburg household income of $47,000; at that income and 20% down, the 28% guideline points to a home of about $163,000.
| Down payment | $15,780 |
|---|---|
| Loan amount | $63,120 |
| Principal and interest | $425 |
| Property taxes (1.10% a year) | $72 |
| Homeowners insurance (our estimate, 0.5% a year) | $33 |
| PMI | $0 |
| Total per month | $530 |
Change the numbers in the calculator
| Down payment | $2,762 |
|---|---|
| Loan amount | $77,471 |
| Principal and interest | $521 |
| Property taxes (1.10% a year) | $72 |
| Homeowners insurance (our estimate, 0.5% a year) | $33 |
| FHA mortgage insurance | $35 |
| Total per month | $661 |
Change the numbers in the calculator
Questions about home buying in Hamburg
What is the median home value in Hamburg?
About $78,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Hamburg?
For the median home with 20% down at 7.11%, the payment is about $530 a month. Keeping that under 28% of gross income takes about $22,706 a year.
More about Hamburg
- Mortgage Refinance in Hamburg
- Debt Relief in Hamburg
- Home Equity Loans in Hamburg
- 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