The typical owner-occupied home in Chestnut is worth about $135,600, 48% below the Illinois median of $263,300 and 59% below the national median of $332,700. Owners pay a median $2,543 a year in property taxes, about 1.88% of their home's value, lower than the Illinois rate of 2.01%. The median household earns $54,091 a year, so the median home costs 2.5 times the median income (3.2 times for Illinois). 94% of occupied homes here are lived in by their owners, and 59% of those owners still have a mortgage.
Chestnut at a glance
| Chestnut | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $135,600 | $263,300 | $332,700 |
| Median property tax paid per year | $2,543 | $5,298 | $3,119 |
| Property tax as a share of value | 1.88% | 2.01% | 0.94% |
| Median household income | $54,091 | $83,390 | $80,734 |
| Homes lived in by their owners | 94% | 67% | 65% |
| Owner homes with a mortgage | 59% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,285 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 30.7% | 20.6% | 21.0% |
| Median rent | – | $1,274 | $1,413 |
| Median year homes were built | 1972 | 1971 | 1980 |
| Vacant homes | 0.0% | 7.7% | 10.1% |
| Population | 347 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Chestnut
At this week's average 30-year rate of 7.11%, buying the median Chestnut home of $135,600 with 20% down costs about $999 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,225, 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 $42,801 for the 20%-down payment. That payment is 22% of the median Chestnut household income of $54,091; at that income and 20% down, the 28% guideline points to a home of about $171,000.
| Down payment | $27,120 |
|---|---|
| Loan amount | $108,480 |
| Principal and interest | $730 |
| Property taxes (1.88% a year) | $212 |
| Homeowners insurance (our estimate, 0.5% a year) | $56 |
| PMI | $0 |
| Total per month | $999 |
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| Down payment | $4,746 |
|---|---|
| Loan amount | $133,144 |
| Principal and interest | $896 |
| Property taxes (1.88% a year) | $212 |
| Homeowners insurance (our estimate, 0.5% a year) | $56 |
| FHA mortgage insurance | $60 |
| Total per month | $1,225 |
Change the numbers in the calculator
Questions about home buying in Chestnut
What is the median home value in Chestnut?
About $135,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Chestnut?
Homeowners pay a median $2,543 a year, which is about 1.88% 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 Chestnut?
For the median home with 20% down at 7.11%, the payment is about $999 a month. Keeping that under 28% of gross income takes about $42,801 a year.
More about Chestnut
- Mortgage Refinance in Chestnut
- Debt Relief in Chestnut
- Home Equity Loans in Chestnut
- 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