The typical owner-occupied home in Ramsey is worth about $65,800, 75% below the Illinois median of $263,300 and 80% below the national median of $332,700. Owners pay a median $1,098 a year in property taxes, about 1.67% of their home's value, lower than the Illinois rate of 2.01%. The median household earns $53,375 a year, so the median home costs 1.2 times the median income (3.2 times for Illinois). 83% of occupied homes here are lived in by their owners, and 42% of those owners still have a mortgage.
Ramsey at a glance
| Ramsey | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $65,800 | $263,300 | $332,700 |
| Median property tax paid per year | $1,098 | $5,298 | $3,119 |
| Property tax as a share of value | 1.67% | 2.01% | 0.94% |
| Median household income | $53,375 | $83,390 | $80,734 |
| Homes lived in by their owners | 83% | 67% | 65% |
| Owner homes with a mortgage | 42% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $993 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 20.3% | 20.6% | 21.0% |
| Median rent | $741 | $1,274 | $1,413 |
| Rent as a share of renters' income | 40.0% | 29.1% | 30.6% |
| Median year homes were built | 1964 | 1971 | 1980 |
| Vacant homes | 9.8% | 7.7% | 10.1% |
| Population | 1,094 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Ramsey
At this week's average 30-year rate of 7.11%, buying the median Ramsey home of $65,800 with 20% down costs about $473 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $583, 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 $20,276 for the 20%-down payment. That payment is 11% of the median Ramsey household income of $53,375; at that income and 20% down, the 28% guideline points to a home of about $173,000.
The median rent here is $741 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $13,160 |
|---|---|
| Loan amount | $52,640 |
| Principal and interest | $354 |
| Property taxes (1.67% a year) | $92 |
| Homeowners insurance (our estimate, 0.5% a year) | $27 |
| PMI | $0 |
| Total per month | $473 |
Change the numbers in the calculator
| Down payment | $2,303 |
|---|---|
| Loan amount | $64,608 |
| Principal and interest | $435 |
| Property taxes (1.67% a year) | $92 |
| Homeowners insurance (our estimate, 0.5% a year) | $27 |
| FHA mortgage insurance | $29 |
| Total per month | $583 |
Change the numbers in the calculator
Questions about home buying in Ramsey
What is the median home value in Ramsey?
About $65,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Ramsey?
Homeowners pay a median $1,098 a year, which is about 1.67% 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 Ramsey?
For the median home with 20% down at 7.11%, the payment is about $473 a month. Keeping that under 28% of gross income takes about $20,276 a year.
More about Ramsey
- Mortgage Refinance in Ramsey
- Debt Relief in Ramsey
- Home Equity Loans in Ramsey
- 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