The typical owner-occupied home in West Salem is worth about $74,600, 72% below the Illinois median of $263,300 and 78% below the national median of $332,700. Owners pay a median $970 a year in property taxes, about 1.30% of their home's value, lower than the Illinois rate of 2.01%. The median household earns $49,821 a year, so the median home costs 1.5 times the median income (3.2 times for Illinois). 82% of occupied homes here are lived in by their owners, and 31% of those owners still have a mortgage.
West Salem at a glance
| West Salem | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $74,600 | $263,300 | $332,700 |
| Median property tax paid per year | $970 | $5,298 | $3,119 |
| Property tax as a share of value | 1.30% | 2.01% | 0.94% |
| Median household income | $49,821 | $83,390 | $80,734 |
| Homes lived in by their owners | 82% | 67% | 65% |
| Owner homes with a mortgage | 31% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $875 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 21.8% | 20.6% | 21.0% |
| Median rent | $811 | $1,274 | $1,413 |
| Rent as a share of renters' income | 25.2% | 29.1% | 30.6% |
| Median year homes were built | 1956 | 1971 | 1980 |
| Vacant homes | 29.8% | 7.7% | 10.1% |
| Population | 713 | 12,694,798 | 334,922,499 |
What a typical home costs per month in West Salem
At this week's average 30-year rate of 7.11%, buying the median West Salem home of $74,600 with 20% down costs about $513 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $638, 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 $22,002 for the 20%-down payment. That payment is 12% of the median West Salem household income of $49,821; at that income and 20% down, the 28% guideline points to a home of about $169,000.
The median rent here is $811 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $14,920 |
|---|---|
| Loan amount | $59,680 |
| Principal and interest | $401 |
| Property taxes (1.30% a year) | $81 |
| Homeowners insurance (our estimate, 0.5% a year) | $31 |
| PMI | $0 |
| Total per month | $513 |
Change the numbers in the calculator
| Down payment | $2,611 |
|---|---|
| Loan amount | $73,249 |
| Principal and interest | $493 |
| Property taxes (1.30% a year) | $81 |
| Homeowners insurance (our estimate, 0.5% a year) | $31 |
| FHA mortgage insurance | $33 |
| Total per month | $638 |
Change the numbers in the calculator
Questions about home buying in West Salem
What is the median home value in West Salem?
About $74,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in West Salem?
Homeowners pay a median $970 a year, which is about 1.30% 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 West Salem?
For the median home with 20% down at 7.11%, the payment is about $513 a month. Keeping that under 28% of gross income takes about $22,002 a year.
More about West Salem
- Mortgage Refinance in West Salem
- Debt Relief in West Salem
- Home Equity Loans in West Salem
- 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