The typical owner-occupied home in Cedar Point is worth about $90,000, 66% below the Illinois median of $263,300 and 73% below the national median of $332,700. Owners pay a median $1,788 a year in property taxes, about 1.99% of their home's value, close to the Illinois rate of 2.01%. The median household earns $73,125 a year, so the median home costs 1.2 times the median income (3.2 times for Illinois). 81% of occupied homes here are lived in by their owners, and 52% of those owners still have a mortgage.
Cedar Point at a glance
| Cedar Point | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $90,000 | $263,300 | $332,700 |
| Median property tax paid per year | $1,788 | $5,298 | $3,119 |
| Property tax as a share of value | 1.99% | 2.01% | 0.94% |
| Median household income | $73,125 | $83,390 | $80,734 |
| Homes lived in by their owners | 81% | 67% | 65% |
| Owner homes with a mortgage | 52% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,182 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 18.8% | 20.6% | 21.0% |
| Median rent | $1,288 | $1,274 | $1,413 |
| Rent as a share of renters' income | 32.2% | 29.1% | 30.6% |
| Median year homes were built | 1952 | 1971 | 1980 |
| Vacant homes | 12.3% | 7.7% | 10.1% |
| Population | 262 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Cedar Point
At this week's average 30-year rate of 7.11%, buying the median Cedar Point home of $90,000 with 20% down costs about $671 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $821, 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 $28,761 for the 20%-down payment. That payment is 11% of the median Cedar Point household income of $73,125; at that income and 20% down, the 28% guideline points to a home of about $229,000.
The median rent here is $1,288 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $18,000 |
|---|---|
| Loan amount | $72,000 |
| Principal and interest | $484 |
| Property taxes (1.99% a year) | $149 |
| Homeowners insurance (our estimate, 0.5% a year) | $38 |
| PMI | $0 |
| Total per month | $671 |
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| Down payment | $3,150 |
|---|---|
| Loan amount | $88,370 |
| Principal and interest | $594 |
| Property taxes (1.99% a year) | $149 |
| Homeowners insurance (our estimate, 0.5% a year) | $38 |
| FHA mortgage insurance | $40 |
| Total per month | $821 |
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Questions about home buying in Cedar Point
What is the median home value in Cedar Point?
About $90,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Cedar Point?
Homeowners pay a median $1,788 a year, which is about 1.99% 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 Cedar Point?
For the median home with 20% down at 7.11%, the payment is about $671 a month. Keeping that under 28% of gross income takes about $28,761 a year.
More about Cedar Point
- Mortgage Refinance in Cedar Point
- Debt Relief in Cedar Point
- Home Equity Loans in Cedar 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