The typical owner-occupied home in Warren is worth about $102,200, 61% below the Illinois median of $263,300 and 69% below the national median of $332,700. Owners pay a median $2,299 a year in property taxes, about 2.25% of their home's value, higher than the Illinois rate of 2.01%. The median household earns $75,813 a year, so the median home costs 1.3 times the median income (3.2 times for Illinois). 87% of occupied homes here are lived in by their owners, and 53% of those owners still have a mortgage.
Warren at a glance
| Warren | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $102,200 | $263,300 | $332,700 |
| Median property tax paid per year | $2,299 | $5,298 | $3,119 |
| Property tax as a share of value | 2.25% | 2.01% | 0.94% |
| Median household income | $75,813 | $83,390 | $80,734 |
| Homes lived in by their owners | 87% | 67% | 65% |
| Owner homes with a mortgage | 53% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,134 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 18.0% | 20.6% | 21.0% |
| Median rent | $741 | $1,274 | $1,413 |
| Rent as a share of renters' income | 30.9% | 29.1% | 30.6% |
| Median year homes were built | 1952 | 1971 | 1980 |
| Vacant homes | 6.3% | 7.7% | 10.1% |
| Population | 1,396 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Warren
At this week's average 30-year rate of 7.11%, buying the median Warren home of $102,200 with 20% down costs about $784 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $954, 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 $33,609 for the 20%-down payment. That payment is 12% of the median Warren household income of $75,813; at that income and 20% down, the 28% guideline points to a home of about $231,000.
The median rent here is $741 a month, so owning the median home costs about $43 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $20,440 |
|---|---|
| Loan amount | $81,760 |
| Principal and interest | $550 |
| Property taxes (2.25% a year) | $192 |
| Homeowners insurance (our estimate, 0.5% a year) | $43 |
| PMI | $0 |
| Total per month | $784 |
Change the numbers in the calculator
| Down payment | $3,577 |
|---|---|
| Loan amount | $100,349 |
| Principal and interest | $675 |
| Property taxes (2.25% a year) | $192 |
| Homeowners insurance (our estimate, 0.5% a year) | $43 |
| FHA mortgage insurance | $45 |
| Total per month | $954 |
Change the numbers in the calculator
Questions about home buying in Warren
What is the median home value in Warren?
About $102,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Warren?
Homeowners pay a median $2,299 a year, which is about 2.25% 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 Warren?
For the median home with 20% down at 7.11%, the payment is about $784 a month. Keeping that under 28% of gross income takes about $33,609 a year.
More about Warren
- Mortgage Refinance in Warren
- Debt Relief in Warren
- Home Equity Loans in Warren
- 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