The typical owner-occupied home in Verona is worth about $118,800, 55% below the Illinois median of $263,300 and 64% below the national median of $332,700. Owners pay a median $2,727 a year in property taxes, about 2.30% of their home's value, higher than the Illinois rate of 2.01%. The median household earns $45,313 a year, so the median home costs 2.6 times the median income (3.2 times for Illinois). 86% of occupied homes here are lived in by their owners, and 45% of those owners still have a mortgage.
Verona at a glance
| Verona | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $118,800 | $263,300 | $332,700 |
| Median property tax paid per year | $2,727 | $5,298 | $3,119 |
| Property tax as a share of value | 2.30% | 2.01% | 0.94% |
| Median household income | $45,313 | $83,390 | $80,734 |
| Homes lived in by their owners | 86% | 67% | 65% |
| Owner homes with a mortgage | 45% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,063 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 18.1% | 20.6% | 21.0% |
| Median rent | $983 | $1,274 | $1,413 |
| Rent as a share of renters' income | 20.4% | 29.1% | 30.6% |
| Median year homes were built | 1953 | 1971 | 1980 |
| Vacant homes | 0.0% | 7.7% | 10.1% |
| Population | 272 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Verona
At this week's average 30-year rate of 7.11%, buying the median Verona home of $118,800 with 20% down costs about $917 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,114, 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 $39,280 for the 20%-down payment. That payment is 24% of the median Verona household income of $45,313; at that income and 20% down, the 28% guideline points to a home of about $137,000.
The median rent here is $983 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $23,760 |
|---|---|
| Loan amount | $95,040 |
| Principal and interest | $639 |
| Property taxes (2.30% a year) | $228 |
| Homeowners insurance (our estimate, 0.5% a year) | $50 |
| PMI | $0 |
| Total per month | $917 |
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| Down payment | $4,158 |
|---|---|
| Loan amount | $116,648 |
| Principal and interest | $785 |
| Property taxes (2.30% a year) | $228 |
| Homeowners insurance (our estimate, 0.5% a year) | $50 |
| FHA mortgage insurance | $53 |
| Total per month | $1,114 |
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Questions about home buying in Verona
What is the median home value in Verona?
About $118,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Verona?
Homeowners pay a median $2,727 a year, which is about 2.30% 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 Verona?
For the median home with 20% down at 7.11%, the payment is about $917 a month. Keeping that under 28% of gross income takes about $39,280 a year.
More about Verona
- Mortgage Refinance in Verona
- Debt Relief in Verona
- Home Equity Loans in Verona
- 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