The typical owner-occupied home in Braceville is worth about $187,900, 29% below the Illinois median of $263,300 and 44% below the national median of $332,700. Owners pay a median $3,712 a year in property taxes, about 1.98% of their home's value, close to the Illinois rate of 2.01%. The median household earns $89,167 a year, so the median home costs 2.1 times the median income (3.2 times for Illinois). 88% of occupied homes here are lived in by their owners, and 59% of those owners still have a mortgage.
Braceville at a glance
| Braceville | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $187,900 | $263,300 | $332,700 |
| Median property tax paid per year | $3,712 | $5,298 | $3,119 |
| Property tax as a share of value | 1.98% | 2.01% | 0.94% |
| Median household income | $89,167 | $83,390 | $80,734 |
| Homes lived in by their owners | 88% | 67% | 65% |
| Owner homes with a mortgage | 59% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,563 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 15.9% | 20.6% | 21.0% |
| Median rent | – | $1,274 | $1,413 |
| Median year homes were built | 1969 | 1971 | 1980 |
| Vacant homes | 5.3% | 7.7% | 10.1% |
| Population | 860 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Braceville
At this week's average 30-year rate of 7.11%, buying the median Braceville home of $187,900 with 20% down costs about $1,400 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,713, 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 $59,980 for the 20%-down payment. That payment is 19% of the median Braceville household income of $89,167; at that income and 20% down, the 28% guideline points to a home of about $279,000.
| Down payment | $37,580 |
|---|---|
| Loan amount | $150,320 |
| Principal and interest | $1,011 |
| Property taxes (1.98% a year) | $310 |
| Homeowners insurance (our estimate, 0.5% a year) | $78 |
| PMI | $0 |
| Total per month | $1,400 |
Change the numbers in the calculator
| Down payment | $6,576 |
|---|---|
| Loan amount | $184,497 |
| Principal and interest | $1,241 |
| Property taxes (1.98% a year) | $310 |
| Homeowners insurance (our estimate, 0.5% a year) | $78 |
| FHA mortgage insurance | $83 |
| Total per month | $1,713 |
Change the numbers in the calculator
Questions about home buying in Braceville
What is the median home value in Braceville?
About $187,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Braceville?
Homeowners pay a median $3,712 a year, which is about 1.98% 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 Braceville?
For the median home with 20% down at 7.11%, the payment is about $1,400 a month. Keeping that under 28% of gross income takes about $59,980 a year.
More about Braceville
- Mortgage Refinance in Braceville
- Debt Relief in Braceville
- Home Equity Loans in Braceville
- 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