The typical owner-occupied home in West Point is worth about $39,300, 85% below the Illinois median of $263,300 and 88% below the national median of $332,700. Owners pay a median $293 a year in property taxes, about 0.75% of their home's value, lower than the Illinois rate of 2.01%. The median household earns $64,375 a year, so the median home costs 0.6 times the median income (3.2 times for Illinois). 90% of occupied homes here are lived in by their owners, and 19% of those owners still have a mortgage.
West Point at a glance
| West Point | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $39,300 | $263,300 | $332,700 |
| Median property tax paid per year | $293 | $5,298 | $3,119 |
| Property tax as a share of value | 0.75% | 2.01% | 0.94% |
| Median household income | $64,375 | $83,390 | $80,734 |
| Homes lived in by their owners | 90% | 67% | 65% |
| Owner homes with a mortgage | 19% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,036 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 14.2% | 20.6% | 21.0% |
| Median rent | – | $1,274 | $1,413 |
| Median year homes were built | 1938 | 1971 | 1980 |
| Vacant homes | 6.8% | 7.7% | 10.1% |
| Population | 201 | 12,694,798 | 334,922,499 |
What a typical home costs per month in West Point
At this week's average 30-year rate of 7.11%, buying the median West Point home of $39,300 with 20% down costs about $252 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $318, 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 $10,819 for the 20%-down payment. That payment is 5% of the median West Point household income of $64,375; at that income and 20% down, the 28% guideline points to a home of about $234,000.
| Down payment | $7,860 |
|---|---|
| Loan amount | $31,440 |
| Principal and interest | $212 |
| Property taxes (0.75% a year) | $25 |
| Homeowners insurance (our estimate, 0.5% a year) | $16 |
| PMI | $0 |
| Total per month | $252 |
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| Down payment | $1,376 |
|---|---|
| Loan amount | $38,588 |
| Principal and interest | $260 |
| Property taxes (0.75% a year) | $25 |
| Homeowners insurance (our estimate, 0.5% a year) | $16 |
| FHA mortgage insurance | $17 |
| Total per month | $318 |
Change the numbers in the calculator
Questions about home buying in West Point
What is the median home value in West Point?
About $39,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in West Point?
Homeowners pay a median $293 a year, which is about 0.75% 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 Point?
For the median home with 20% down at 7.11%, the payment is about $252 a month. Keeping that under 28% of gross income takes about $10,819 a year.
More about West Point
- Mortgage Refinance in West Point
- Debt Relief in West Point
- Home Equity Loans in West Point
- 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