The typical owner-occupied home in River Grove is worth about $241,800, 8% below the Illinois median of $263,300 and 27% below the national median of $332,700. Owners pay a median $5,591 a year in property taxes, about 2.31% of their home's value, higher than the Illinois rate of 2.01%. The median household earns $69,858 a year, so the median home costs 3.5 times the median income (3.2 times for Illinois). 56% of occupied homes here are lived in by their owners, and 61% of those owners still have a mortgage.
River Grove at a glance
| River Grove | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $241,800 | $263,300 | $332,700 |
| Median property tax paid per year | $5,591 | $5,298 | $3,119 |
| Property tax as a share of value | 2.31% | 2.01% | 0.94% |
| Median household income | $69,858 | $83,390 | $80,734 |
| Homes lived in by their owners | 56% | 67% | 65% |
| Owner homes with a mortgage | 61% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,674 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 26.7% | 20.6% | 21.0% |
| Median rent | $1,214 | $1,274 | $1,413 |
| Rent as a share of renters' income | 24.4% | 29.1% | 30.6% |
| Median year homes were built | 1963 | 1971 | 1980 |
| Vacant homes | 8.2% | 7.7% | 10.1% |
| Population | 10,451 | 12,694,798 | 334,922,499 |
What a typical home costs per month in River Grove
At this week's average 30-year rate of 7.11%, buying the median River Grove home of $241,800 with 20% down costs about $1,868 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,270, 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 $80,036 for the 20%-down payment. That payment is 32% of the median River Grove household income of $69,858; at that income and 20% down, the 28% guideline points to a home of about $211,000.
The median rent here is $1,214 a month, so owning the median home costs about $654 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $48,360 |
|---|---|
| Loan amount | $193,440 |
| Principal and interest | $1,301 |
| Property taxes (2.31% a year) | $465 |
| Homeowners insurance (our estimate, 0.5% a year) | $101 |
| PMI | $0 |
| Total per month | $1,868 |
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| Down payment | $8,463 |
|---|---|
| Loan amount | $237,420 |
| Principal and interest | $1,597 |
| Property taxes (2.31% a year) | $465 |
| Homeowners insurance (our estimate, 0.5% a year) | $101 |
| FHA mortgage insurance | $107 |
| Total per month | $2,270 |
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Questions about home buying in River Grove
What is the median home value in River Grove?
About $241,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in River Grove?
Homeowners pay a median $5,591 a year, which is about 2.31% 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 River Grove?
For the median home with 20% down at 7.11%, the payment is about $1,868 a month. Keeping that under 28% of gross income takes about $80,036 a year.
More about River Grove
- Mortgage Refinance in River Grove
- Debt Relief in River Grove
- Home Equity Loans in River Grove
- 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