The typical owner-occupied home in Spring Grove is worth about $398,400, 51% above the Illinois median of $263,300 and 20% above the national median of $332,700. Owners pay a median $9,642 a year in property taxes, about 2.42% of their home's value, higher than the Illinois rate of 2.01%. The median household earns $134,210 a year, so the median home costs 3.0 times the median income (3.2 times for Illinois). 96% of occupied homes here are lived in by their owners, and 79% of those owners still have a mortgage.
Spring Grove at a glance
| Spring Grove | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $398,400 | $263,300 | $332,700 |
| Median property tax paid per year | $9,642 | $5,298 | $3,119 |
| Property tax as a share of value | 2.42% | 2.01% | 0.94% |
| Median household income | $134,210 | $83,390 | $80,734 |
| Homes lived in by their owners | 96% | 67% | 65% |
| Owner homes with a mortgage | 79% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $2,701 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 23.0% | 20.6% | 21.0% |
| Median rent | – | $1,274 | $1,413 |
| Median year homes were built | 1998 | 1971 | 1980 |
| Vacant homes | 0.0% | 7.7% | 10.1% |
| Population | 5,917 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Spring Grove
At this week's average 30-year rate of 7.11%, buying the median Spring Grove home of $398,400 with 20% down costs about $3,113 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,777, 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 $133,435 for the 20%-down payment. That payment is 28% of the median Spring Grove household income of $134,210; at that income and 20% down, the 28% guideline points to a home of about $401,000.
| Down payment | $79,680 |
|---|---|
| Loan amount | $318,720 |
| Principal and interest | $2,144 |
| Property taxes (2.42% a year) | $803 |
| Homeowners insurance (our estimate, 0.5% a year) | $166 |
| PMI | $0 |
| Total per month | $3,113 |
Change the numbers in the calculator
| Down payment | $13,944 |
|---|---|
| Loan amount | $391,184 |
| Principal and interest | $2,632 |
| Property taxes (2.42% a year) | $803 |
| Homeowners insurance (our estimate, 0.5% a year) | $166 |
| FHA mortgage insurance | $176 |
| Total per month | $3,777 |
Change the numbers in the calculator
Questions about home buying in Spring Grove
What is the median home value in Spring Grove?
About $398,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Spring Grove?
Homeowners pay a median $9,642 a year, which is about 2.42% 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 Spring Grove?
For the median home with 20% down at 7.11%, the payment is about $3,113 a month. Keeping that under 28% of gross income takes about $133,435 a year.
More about Spring Grove
- Mortgage Refinance in Spring Grove
- Debt Relief in Spring Grove
- Home Equity Loans in Spring Grove
- 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