The typical owner-occupied home in Wilmette is worth about $810,600, 3.1 times the Illinois median of $263,300 and 2.4 times the national median of $332,700. Owners pay a median $10,001 a year in property taxes, about 1.23% of their home's value, lower than the Illinois rate of 2.01%. The median household earns $190,662 a year, so the median home costs 4.3 times the median income (3.2 times for Illinois). 88% of occupied homes here are lived in by their owners, and 61% of those owners still have a mortgage.
Wilmette at a glance
| Wilmette | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $810,600 | $263,300 | $332,700 |
| Median property tax paid per year | $10,001 | $5,298 | $3,119 |
| Property tax as a share of value | 1.23% | 2.01% | 0.94% |
| Median household income | $190,662 | $83,390 | $80,734 |
| Homes lived in by their owners | 88% | 67% | 65% |
| Owner homes with a mortgage | 61% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $4,001 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 21.2% | 20.6% | 21.0% |
| Median rent | $1,978 | $1,274 | $1,413 |
| Rent as a share of renters' income | 28.4% | 29.1% | 30.6% |
| Median year homes were built | 1957 | 1971 | 1980 |
| Vacant homes | 3.7% | 7.7% | 10.1% |
| Population | 27,503 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Wilmette
At this week's average 30-year rate of 7.11%, buying the median Wilmette home of $810,600 with 20% down costs about $5,531 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $7,012, 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 $237,042 for the 20%-down payment. That payment is 35% of the median Wilmette household income of $190,662; at that income and 20% down, the 28% guideline points to a home of about $652,000.
The median rent here is $1,978 a month, so owning the median home costs about $3,553 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $162,120 |
|---|---|
| Loan amount | $648,480 |
| Principal and interest | $4,362 |
| Property taxes (1.23% a year) | $831 |
| Homeowners insurance (our estimate, 0.5% a year) | $338 |
| PMI | $0 |
| Total per month | $5,531 |
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| Down payment | $28,371 |
|---|---|
| Loan amount | $795,918 |
| Principal and interest | $5,354 |
| Property taxes (1.23% a year) | $831 |
| Homeowners insurance (our estimate, 0.5% a year) | $338 |
| FHA mortgage insurance | $489 |
| Total per month | $7,012 |
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Questions about home buying in Wilmette
What is the median home value in Wilmette?
About $810,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Wilmette?
Homeowners pay a median $10,001 a year, which is about 1.23% 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 Wilmette?
For the median home with 20% down at 7.11%, the payment is about $5,531 a month. Keeping that under 28% of gross income takes about $237,042 a year.
More about Wilmette
- Mortgage Refinance in Wilmette
- Debt Relief in Wilmette
- Home Equity Loans in Wilmette
- 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