The typical owner-occupied home in Redmon is worth about $79,300, 70% below the Illinois median of $263,300 and 76% below the national median of $332,700. Owners pay a median $900 a year in property taxes, about 1.13% of their home's value, lower than the Illinois rate of 2.01%. The median household earns $70,625 a year, so the median home costs 1.1 times the median income (3.2 times for Illinois). 78% of occupied homes here are lived in by their owners, and 58% of those owners still have a mortgage.
Redmon at a glance
| Redmon | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $79,300 | $263,300 | $332,700 |
| Median property tax paid per year | $900 | $5,298 | $3,119 |
| Property tax as a share of value | 1.13% | 2.01% | 0.94% |
| Median household income | $70,625 | $83,390 | $80,734 |
| Homes lived in by their owners | 78% | 67% | 65% |
| Owner homes with a mortgage | 58% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,071 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 14.1% | 20.6% | 21.0% |
| Median rent | $850 | $1,274 | $1,413 |
| Rent as a share of renters' income | 33.3% | 29.1% | 30.6% |
| Median year homes were built | 1940 | 1971 | 1980 |
| Vacant homes | 11.7% | 7.7% | 10.1% |
| Population | 169 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Redmon
At this week's average 30-year rate of 7.11%, buying the median Redmon home of $79,300 with 20% down costs about $534 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $667, 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 $22,906 for the 20%-down payment. That payment is 9% of the median Redmon household income of $70,625; at that income and 20% down, the 28% guideline points to a home of about $244,000.
The median rent here is $850 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $15,860 |
|---|---|
| Loan amount | $63,440 |
| Principal and interest | $427 |
| Property taxes (1.13% a year) | $75 |
| Homeowners insurance (our estimate, 0.5% a year) | $33 |
| PMI | $0 |
| Total per month | $534 |
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| Down payment | $2,776 |
|---|---|
| Loan amount | $77,864 |
| Principal and interest | $524 |
| Property taxes (1.13% a year) | $75 |
| Homeowners insurance (our estimate, 0.5% a year) | $33 |
| FHA mortgage insurance | $35 |
| Total per month | $667 |
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Questions about home buying in Redmon
What is the median home value in Redmon?
About $79,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Redmon?
Homeowners pay a median $900 a year, which is about 1.13% 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 Redmon?
For the median home with 20% down at 7.11%, the payment is about $534 a month. Keeping that under 28% of gross income takes about $22,906 a year.
More about Redmon
- Mortgage Refinance in Redmon
- Debt Relief in Redmon
- Home Equity Loans in Redmon
- 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