The typical owner-occupied home in Matteson is worth about $250,600, 5% below the Illinois median of $263,300 and 25% below the national median of $332,700. Owners pay a median $6,829 a year in property taxes, about 2.73% of their home's value, higher than the Illinois rate of 2.01%. The median household earns $95,457 a year, so the median home costs 2.6 times the median income (3.2 times for Illinois). 77% of occupied homes here are lived in by their owners, and 67% of those owners still have a mortgage.
Matteson at a glance
| Matteson | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $250,600 | $263,300 | $332,700 |
| Median property tax paid per year | $6,829 | $5,298 | $3,119 |
| Property tax as a share of value | 2.73% | 2.01% | 0.94% |
| Median household income | $95,457 | $83,390 | $80,734 |
| Homes lived in by their owners | 77% | 67% | 65% |
| Owner homes with a mortgage | 67% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $2,213 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 21.5% | 20.6% | 21.0% |
| Median rent | $1,580 | $1,274 | $1,413 |
| Rent as a share of renters' income | 30.4% | 29.1% | 30.6% |
| Median year homes were built | 1996 | 1971 | 1980 |
| Vacant homes | 3.0% | 7.7% | 10.1% |
| Population | 18,645 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Matteson
At this week's average 30-year rate of 7.11%, buying the median Matteson home of $250,600 with 20% down costs about $2,023 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,441, 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 $86,707 for the 20%-down payment. That payment is 25% of the median Matteson household income of $95,457; at that income and 20% down, the 28% guideline points to a home of about $276,000.
The median rent here is $1,580 a month, so owning the median home costs about $443 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $50,120 |
|---|---|
| Loan amount | $200,480 |
| Principal and interest | $1,349 |
| Property taxes (2.73% a year) | $570 |
| Homeowners insurance (our estimate, 0.5% a year) | $104 |
| PMI | $0 |
| Total per month | $2,023 |
Change the numbers in the calculator
| Down payment | $8,771 |
|---|---|
| Loan amount | $246,061 |
| Principal and interest | $1,655 |
| Property taxes (2.73% a year) | $570 |
| Homeowners insurance (our estimate, 0.5% a year) | $104 |
| FHA mortgage insurance | $111 |
| Total per month | $2,441 |
Change the numbers in the calculator
Questions about home buying in Matteson
What is the median home value in Matteson?
About $250,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Matteson?
Homeowners pay a median $6,829 a year, which is about 2.73% 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 Matteson?
For the median home with 20% down at 7.11%, the payment is about $2,023 a month. Keeping that under 28% of gross income takes about $86,707 a year.
More about Matteson
- Mortgage Refinance in Matteson
- Debt Relief in Matteson
- Home Equity Loans in Matteson
- 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