The typical owner-occupied home in Cypress is worth about $65,000, 75% below the Illinois median of $263,300 and 80% below the national median of $332,700. The median household earns $52,083 a year, so the median home costs 1.2 times the median income (3.2 times for Illinois). 82% of occupied homes here are lived in by their owners, and 34% of those owners still have a mortgage.
Cypress at a glance
| Cypress | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $65,000 | $263,300 | $332,700 |
| Median property tax paid per year | – | $5,298 | $3,119 |
| Median household income | $52,083 | $83,390 | $80,734 |
| Homes lived in by their owners | 82% | 67% | 65% |
| Owner homes with a mortgage | 34% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $838 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 14.2% | 20.6% | 21.0% |
| Median rent | $1,078 | $1,274 | $1,413 |
| Rent as a share of renters' income | 13.9% | 29.1% | 30.6% |
| Median year homes were built | 1971 | 1971 | 1980 |
| Vacant homes | 23.8% | 7.7% | 10.1% |
| Population | 252 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Cypress
At this week's average 30-year rate of 7.11%, buying the median Cypress home of $65,000 with 20% down costs about $436 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $545, 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 $18,706 for the 20%-down payment. That payment is 10% of the median Cypress household income of $52,083; at that income and 20% down, the 28% guideline points to a home of about $181,000.
The median rent here is $1,078 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $13,000 |
|---|---|
| Loan amount | $52,000 |
| Principal and interest | $350 |
| Property taxes (1.10% a year) | $60 |
| Homeowners insurance (our estimate, 0.5% a year) | $27 |
| PMI | $0 |
| Total per month | $436 |
Change the numbers in the calculator
| Down payment | $2,275 |
|---|---|
| Loan amount | $63,823 |
| Principal and interest | $429 |
| Property taxes (1.10% a year) | $60 |
| Homeowners insurance (our estimate, 0.5% a year) | $27 |
| FHA mortgage insurance | $29 |
| Total per month | $545 |
Change the numbers in the calculator
Questions about home buying in Cypress
What is the median home value in Cypress?
About $65,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Cypress?
For the median home with 20% down at 7.11%, the payment is about $436 a month. Keeping that under 28% of gross income takes about $18,706 a year.
More about Cypress
- Mortgage Refinance in Cypress
- Debt Relief in Cypress
- Home Equity Loans in Cypress
- 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