The typical owner-occupied home in Germantown is worth about $192,500, 27% below the Illinois median of $263,300 and 42% below the national median of $332,700. Owners pay a median $3,237 a year in property taxes, about 1.68% of their home's value, lower than the Illinois rate of 2.01%. The median household earns $92,083 a year, so the median home costs 2.1 times the median income (3.2 times for Illinois). 84% of occupied homes here are lived in by their owners, and 44% of those owners still have a mortgage.
Germantown at a glance
| Germantown | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $192,500 | $263,300 | $332,700 |
| Median property tax paid per year | $3,237 | $5,298 | $3,119 |
| Property tax as a share of value | 1.68% | 2.01% | 0.94% |
| Median household income | $92,083 | $83,390 | $80,734 |
| Homes lived in by their owners | 84% | 67% | 65% |
| Owner homes with a mortgage | 44% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,496 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 14.5% | 20.6% | 21.0% |
| Median rent | $913 | $1,274 | $1,413 |
| Rent as a share of renters' income | 13.9% | 29.1% | 30.6% |
| Median year homes were built | 1972 | 1971 | 1980 |
| Vacant homes | 2.6% | 7.7% | 10.1% |
| Population | 1,350 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Germantown
At this week's average 30-year rate of 7.11%, buying the median Germantown home of $192,500 with 20% down costs about $1,386 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,706, 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 $59,386 for the 20%-down payment. That payment is 18% of the median Germantown household income of $92,083; at that income and 20% down, the 28% guideline points to a home of about $298,000.
The median rent here is $913 a month, so owning the median home costs about $473 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $38,500 |
|---|---|
| Loan amount | $154,000 |
| Principal and interest | $1,036 |
| Property taxes (1.68% a year) | $270 |
| Homeowners insurance (our estimate, 0.5% a year) | $80 |
| PMI | $0 |
| Total per month | $1,386 |
Change the numbers in the calculator
| Down payment | $6,738 |
|---|---|
| Loan amount | $189,013 |
| Principal and interest | $1,272 |
| Property taxes (1.68% a year) | $270 |
| Homeowners insurance (our estimate, 0.5% a year) | $80 |
| FHA mortgage insurance | $85 |
| Total per month | $1,706 |
Change the numbers in the calculator
Questions about home buying in Germantown
What is the median home value in Germantown?
About $192,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Germantown?
Homeowners pay a median $3,237 a year, which is about 1.68% 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 Germantown?
For the median home with 20% down at 7.11%, the payment is about $1,386 a month. Keeping that under 28% of gross income takes about $59,386 a year.
More about Germantown
- Mortgage Refinance in Germantown
- Debt Relief in Germantown
- Home Equity Loans in Germantown
- 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