The typical owner-occupied home in Canton is worth about $107,100, 59% below the Illinois median of $263,300 and 68% below the national median of $332,700. Owners pay a median $2,418 a year in property taxes, about 2.26% of their home's value, higher than the Illinois rate of 2.01%. The median household earns $53,254 a year, so the median home costs 2.0 times the median income (3.2 times for Illinois). 67% of occupied homes here are lived in by their owners, and 43% of those owners still have a mortgage.
Canton at a glance
| Canton | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $107,100 | $263,300 | $332,700 |
| Median property tax paid per year | $2,418 | $5,298 | $3,119 |
| Property tax as a share of value | 2.26% | 2.01% | 0.94% |
| Median household income | $53,254 | $83,390 | $80,734 |
| Homes lived in by their owners | 67% | 67% | 65% |
| Owner homes with a mortgage | 43% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,184 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 17.4% | 20.6% | 21.0% |
| Median rent | $766 | $1,274 | $1,413 |
| Rent as a share of renters' income | 30.3% | 29.1% | 30.6% |
| Median year homes were built | 1958 | 1971 | 1980 |
| Vacant homes | 12.0% | 7.7% | 10.1% |
| Population | 13,144 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Canton
At this week's average 30-year rate of 7.11%, buying the median Canton home of $107,100 with 20% down costs about $823 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,001, 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 $35,259 for the 20%-down payment. That payment is 19% of the median Canton household income of $53,254; at that income and 20% down, the 28% guideline points to a home of about $162,000.
The median rent here is $766 a month, so owning the median home costs about $57 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $21,420 |
|---|---|
| Loan amount | $85,680 |
| Principal and interest | $576 |
| Property taxes (2.26% a year) | $202 |
| Homeowners insurance (our estimate, 0.5% a year) | $45 |
| PMI | $0 |
| Total per month | $823 |
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| Down payment | $3,748 |
|---|---|
| Loan amount | $105,160 |
| Principal and interest | $707 |
| Property taxes (2.26% a year) | $202 |
| Homeowners insurance (our estimate, 0.5% a year) | $45 |
| FHA mortgage insurance | $47 |
| Total per month | $1,001 |
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Questions about home buying in Canton
What is the median home value in Canton?
About $107,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Canton?
Homeowners pay a median $2,418 a year, which is about 2.26% 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 Canton?
For the median home with 20% down at 7.11%, the payment is about $823 a month. Keeping that under 28% of gross income takes about $35,259 a year.
More about Canton
- Mortgage Refinance in Canton
- Debt Relief in Canton
- Home Equity Loans in Canton
- 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