The typical owner-occupied home in Flossmoor is worth about $344,800, 31% above the Illinois median of $263,300 and 4% above the national median of $332,700. Owners pay a median $10,001 a year in property taxes, about 2.90% of their home's value, higher than the Illinois rate of 2.01%. The median household earns $133,663 a year, so the median home costs 2.6 times the median income (3.2 times for Illinois). 95% of occupied homes here are lived in by their owners, and 65% of those owners still have a mortgage.
Flossmoor at a glance
| Flossmoor | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $344,800 | $263,300 | $332,700 |
| Median property tax paid per year | $10,001 | $5,298 | $3,119 |
| Property tax as a share of value | 2.90% | 2.01% | 0.94% |
| Median household income | $133,663 | $83,390 | $80,734 |
| Homes lived in by their owners | 95% | 67% | 65% |
| Owner homes with a mortgage | 65% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $3,031 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 24.9% | 20.6% | 21.0% |
| Median rent | $2,164 | $1,274 | $1,413 |
| Rent as a share of renters' income | 22.4% | 29.1% | 30.6% |
| Median year homes were built | 1969 | 1971 | 1980 |
| Vacant homes | 3.6% | 7.7% | 10.1% |
| Population | 9,391 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Flossmoor
At this week's average 30-year rate of 7.11%, buying the median Flossmoor home of $344,800 with 20% down costs about $2,833 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,407, 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 $121,394 for the 20%-down payment. That payment is 25% of the median Flossmoor household income of $133,663; at that income and 20% down, the 28% guideline points to a home of about $380,000.
The median rent here is $2,164 a month, so owning the median home costs about $669 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $68,960 |
|---|---|
| Loan amount | $275,840 |
| Principal and interest | $1,856 |
| Property taxes (2.90% a year) | $833 |
| Homeowners insurance (our estimate, 0.5% a year) | $144 |
| PMI | $0 |
| Total per month | $2,833 |
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| Down payment | $12,068 |
|---|---|
| Loan amount | $338,555 |
| Principal and interest | $2,277 |
| Property taxes (2.90% a year) | $833 |
| Homeowners insurance (our estimate, 0.5% a year) | $144 |
| FHA mortgage insurance | $152 |
| Total per month | $3,407 |
Change the numbers in the calculator
Questions about home buying in Flossmoor
What is the median home value in Flossmoor?
About $344,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Flossmoor?
Homeowners pay a median $10,001 a year, which is about 2.90% 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 Flossmoor?
For the median home with 20% down at 7.11%, the payment is about $2,833 a month. Keeping that under 28% of gross income takes about $121,394 a year.
More about Flossmoor
- Mortgage Refinance in Flossmoor
- Debt Relief in Flossmoor
- Home Equity Loans in Flossmoor
- 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