The typical owner-occupied home in La Grange Park is worth about $439,800, 67% above the Illinois median of $263,300 and 32% above the national median of $332,700. Owners pay a median $9,103 a year in property taxes, about 2.07% of their home's value, close to the Illinois rate of 2.01%. The median household earns $120,408 a year, so the median home costs 3.7 times the median income (3.2 times for Illinois). 72% of occupied homes here are lived in by their owners, and 67% of those owners still have a mortgage.
La Grange Park at a glance
| La Grange Park | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $439,800 | $263,300 | $332,700 |
| Median property tax paid per year | $9,103 | $5,298 | $3,119 |
| Property tax as a share of value | 2.07% | 2.01% | 0.94% |
| Median household income | $120,408 | $83,390 | $80,734 |
| Homes lived in by their owners | 72% | 67% | 65% |
| Owner homes with a mortgage | 67% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $2,620 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 20.3% | 20.6% | 21.0% |
| Median rent | $1,442 | $1,274 | $1,413 |
| Rent as a share of renters' income | 32.4% | 29.1% | 30.6% |
| Median year homes were built | 1956 | 1971 | 1980 |
| Vacant homes | 6.1% | 7.7% | 10.1% |
| Population | 13,447 | 12,694,798 | 334,922,499 |
What a typical home costs per month in La Grange Park
At this week's average 30-year rate of 7.11%, buying the median La Grange Park home of $439,800 with 20% down costs about $3,309 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $4,041, 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 $141,804 for the 20%-down payment. That payment is 33% of the median La Grange Park household income of $120,408; at that income and 20% down, the 28% guideline points to a home of about $373,000.
The median rent here is $1,442 a month, so owning the median home costs about $1,867 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $87,960 |
|---|---|
| Loan amount | $351,840 |
| Principal and interest | $2,367 |
| Property taxes (2.07% a year) | $759 |
| Homeowners insurance (our estimate, 0.5% a year) | $183 |
| PMI | $0 |
| Total per month | $3,309 |
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| Down payment | $15,393 |
|---|---|
| Loan amount | $431,834 |
| Principal and interest | $2,905 |
| Property taxes (2.07% a year) | $759 |
| Homeowners insurance (our estimate, 0.5% a year) | $183 |
| FHA mortgage insurance | $195 |
| Total per month | $4,041 |
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Questions about home buying in La Grange Park
What is the median home value in La Grange Park?
About $439,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in La Grange Park?
Homeowners pay a median $9,103 a year, which is about 2.07% 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 La Grange Park?
For the median home with 20% down at 7.11%, the payment is about $3,309 a month. Keeping that under 28% of gross income takes about $141,804 a year.
More about La Grange Park
- Mortgage Refinance in La Grange Park
- Debt Relief in La Grange Park
- Home Equity Loans in La Grange Park
- 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