The typical owner-occupied home in Lincolnshire is worth about $677,700, 2.6 times the Illinois median of $263,300 and 2.0 times the national median of $332,700. Owners pay a median $10,001 a year in property taxes, about 1.48% of their home's value, lower than the Illinois rate of 2.01%. The median household earns $185,580 a year, so the median home costs 3.7 times the median income (3.2 times for Illinois). 78% of occupied homes here are lived in by their owners, and 59% of those owners still have a mortgage.
Lincolnshire at a glance
| Lincolnshire | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $677,700 | $263,300 | $332,700 |
| Median property tax paid per year | $10,001 | $5,298 | $3,119 |
| Property tax as a share of value | 1.48% | 2.01% | 0.94% |
| Median household income | $185,580 | $83,390 | $80,734 |
| Homes lived in by their owners | 78% | 67% | 65% |
| Owner homes with a mortgage | 59% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $3,927 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 18.4% | 20.6% | 21.0% |
| Median rent | $2,858 | $1,274 | $1,413 |
| Rent as a share of renters' income | 36.6% | 29.1% | 30.6% |
| Median year homes were built | 1992 | 1971 | 1980 |
| Vacant homes | 7.1% | 7.7% | 10.1% |
| Population | 7,980 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Lincolnshire
At this week's average 30-year rate of 7.11%, buying the median Lincolnshire home of $677,700 with 20% down costs about $4,765 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $5,894, 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 $204,229 for the 20%-down payment. That payment is 31% of the median Lincolnshire household income of $185,580; at that income and 20% down, the 28% guideline points to a home of about $616,000.
The median rent here is $2,858 a month, so owning the median home costs about $1,907 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $135,540 |
|---|---|
| Loan amount | $542,160 |
| Principal and interest | $3,647 |
| Property taxes (1.48% a year) | $836 |
| Homeowners insurance (our estimate, 0.5% a year) | $282 |
| PMI | $0 |
| Total per month | $4,765 |
Change the numbers in the calculator
| Down payment | $23,720 |
|---|---|
| Loan amount | $665,425 |
| Principal and interest | $4,476 |
| Property taxes (1.48% a year) | $836 |
| Homeowners insurance (our estimate, 0.5% a year) | $282 |
| FHA mortgage insurance | $300 |
| Total per month | $5,894 |
Change the numbers in the calculator
Questions about home buying in Lincolnshire
What is the median home value in Lincolnshire?
About $677,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Lincolnshire?
Homeowners pay a median $10,001 a year, which is about 1.48% 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 Lincolnshire?
For the median home with 20% down at 7.11%, the payment is about $4,765 a month. Keeping that under 28% of gross income takes about $204,229 a year.
More about Lincolnshire
- Mortgage Refinance in Lincolnshire
- Debt Relief in Lincolnshire
- Home Equity Loans in Lincolnshire
- 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