The typical owner-occupied home in Downs is worth about $240,600, 9% below the Illinois median of $263,300 and 28% below the national median of $332,700. Owners pay a median $6,188 a year in property taxes, about 2.57% of their home's value, higher than the Illinois rate of 2.01%. The median household earns $110,625 a year, so the median home costs 2.2 times the median income (3.2 times for Illinois). 91% of occupied homes here are lived in by their owners, and 71% of those owners still have a mortgage.
Downs at a glance
| Downs | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $240,600 | $263,300 | $332,700 |
| Median property tax paid per year | $6,188 | $5,298 | $3,119 |
| Property tax as a share of value | 2.57% | 2.01% | 0.94% |
| Median household income | $110,625 | $83,390 | $80,734 |
| Homes lived in by their owners | 91% | 67% | 65% |
| Owner homes with a mortgage | 71% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,893 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 19.9% | 20.6% | 21.0% |
| Median rent | $1,258 | $1,274 | $1,413 |
| Rent as a share of renters' income | 24.0% | 29.1% | 30.6% |
| Median year homes were built | 1993 | 1971 | 1980 |
| Vacant homes | 0.0% | 7.7% | 10.1% |
| Population | 1,641 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Downs
At this week's average 30-year rate of 7.11%, buying the median Downs home of $240,600 with 20% down costs about $1,910 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,311, 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 $81,873 for the 20%-down payment. That payment is 21% of the median Downs household income of $110,625; at that income and 20% down, the 28% guideline points to a home of about $325,000.
The median rent here is $1,258 a month, so owning the median home costs about $652 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $48,120 |
|---|---|
| Loan amount | $192,480 |
| Principal and interest | $1,295 |
| Property taxes (2.57% a year) | $515 |
| Homeowners insurance (our estimate, 0.5% a year) | $100 |
| PMI | $0 |
| Total per month | $1,910 |
Change the numbers in the calculator
| Down payment | $8,421 |
|---|---|
| Loan amount | $236,242 |
| Principal and interest | $1,589 |
| Property taxes (2.57% a year) | $515 |
| Homeowners insurance (our estimate, 0.5% a year) | $100 |
| FHA mortgage insurance | $106 |
| Total per month | $2,311 |
Change the numbers in the calculator
Questions about home buying in Downs
What is the median home value in Downs?
About $240,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Downs?
Homeowners pay a median $6,188 a year, which is about 2.57% 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 Downs?
For the median home with 20% down at 7.11%, the payment is about $1,910 a month. Keeping that under 28% of gross income takes about $81,873 a year.
More about Downs
- Mortgage Refinance in Downs
- Debt Relief in Downs
- Home Equity Loans in Downs
- 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