The typical owner-occupied home in Bourbonnais is worth about $253,100, 4% below the Illinois median of $263,300 and 24% below the national median of $332,700. Owners pay a median $5,568 a year in property taxes, about 2.20% of their home's value, higher than the Illinois rate of 2.01%. The median household earns $81,708 a year, so the median home costs 3.1 times the median income (3.2 times for Illinois). 73% of occupied homes here are lived in by their owners, and 64% of those owners still have a mortgage.
Bourbonnais at a glance
| Bourbonnais | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $253,100 | $263,300 | $332,700 |
| Median property tax paid per year | $5,568 | $5,298 | $3,119 |
| Property tax as a share of value | 2.20% | 2.01% | 0.94% |
| Median household income | $81,708 | $83,390 | $80,734 |
| Homes lived in by their owners | 73% | 67% | 65% |
| Owner homes with a mortgage | 64% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,866 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 19.5% | 20.6% | 21.0% |
| Median rent | $1,269 | $1,274 | $1,413 |
| Rent as a share of renters' income | 25.2% | 29.1% | 30.6% |
| Median year homes were built | 1979 | 1971 | 1980 |
| Vacant homes | 7.9% | 7.7% | 10.1% |
| Population | 18,078 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Bourbonnais
At this week's average 30-year rate of 7.11%, buying the median Bourbonnais home of $253,100 with 20% down costs about $1,932 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,353, 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 $82,782 for the 20%-down payment. That payment is 28% of the median Bourbonnais household income of $81,708; at that income and 20% down, the 28% guideline points to a home of about $250,000.
The median rent here is $1,269 a month, so owning the median home costs about $663 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $50,620 |
|---|---|
| Loan amount | $202,480 |
| Principal and interest | $1,362 |
| Property taxes (2.20% a year) | $464 |
| Homeowners insurance (our estimate, 0.5% a year) | $105 |
| PMI | $0 |
| Total per month | $1,932 |
Change the numbers in the calculator
| Down payment | $8,858 |
|---|---|
| Loan amount | $248,516 |
| Principal and interest | $1,672 |
| Property taxes (2.20% a year) | $464 |
| Homeowners insurance (our estimate, 0.5% a year) | $105 |
| FHA mortgage insurance | $112 |
| Total per month | $2,353 |
Change the numbers in the calculator
Questions about home buying in Bourbonnais
What is the median home value in Bourbonnais?
About $253,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Bourbonnais?
Homeowners pay a median $5,568 a year, which is about 2.20% 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 Bourbonnais?
For the median home with 20% down at 7.11%, the payment is about $1,932 a month. Keeping that under 28% of gross income takes about $82,782 a year.
More about Bourbonnais
- Mortgage Refinance in Bourbonnais
- Debt Relief in Bourbonnais
- Home Equity Loans in Bourbonnais
- 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