The typical owner-occupied home in Red Bud is worth about $171,000, 35% below the Illinois median of $263,300 and 49% below the national median of $332,700. Owners pay a median $2,596 a year in property taxes, about 1.52% of their home's value, lower than the Illinois rate of 2.01%. The median household earns $71,850 a year, so the median home costs 2.4 times the median income (3.2 times for Illinois). 77% of occupied homes here are lived in by their owners, and 59% of those owners still have a mortgage.
Red Bud at a glance
| Red Bud | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $171,000 | $263,300 | $332,700 |
| Median property tax paid per year | $2,596 | $5,298 | $3,119 |
| Property tax as a share of value | 1.52% | 2.01% | 0.94% |
| Median household income | $71,850 | $83,390 | $80,734 |
| Homes lived in by their owners | 77% | 67% | 65% |
| Owner homes with a mortgage | 59% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,579 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 17.4% | 20.6% | 21.0% |
| Median rent | $845 | $1,274 | $1,413 |
| Rent as a share of renters' income | 22.3% | 29.1% | 30.6% |
| Median year homes were built | 1980 | 1971 | 1980 |
| Vacant homes | 1.0% | 7.7% | 10.1% |
| Population | 3,782 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Red Bud
At this week's average 30-year rate of 7.11%, buying the median Red Bud home of $171,000 with 20% down costs about $1,208 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,493, 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 $51,776 for the 20%-down payment. That payment is 20% of the median Red Bud household income of $71,850; at that income and 20% down, the 28% guideline points to a home of about $237,000.
The median rent here is $845 a month, so owning the median home costs about $363 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $34,200 |
|---|---|
| Loan amount | $136,800 |
| Principal and interest | $920 |
| Property taxes (1.52% a year) | $217 |
| Homeowners insurance (our estimate, 0.5% a year) | $71 |
| PMI | $0 |
| Total per month | $1,208 |
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| Down payment | $5,985 |
|---|---|
| Loan amount | $167,903 |
| Principal and interest | $1,129 |
| Property taxes (1.52% a year) | $217 |
| Homeowners insurance (our estimate, 0.5% a year) | $71 |
| FHA mortgage insurance | $76 |
| Total per month | $1,493 |
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Questions about home buying in Red Bud
What is the median home value in Red Bud?
About $171,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Red Bud?
Homeowners pay a median $2,596 a year, which is about 1.52% 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 Red Bud?
For the median home with 20% down at 7.11%, the payment is about $1,208 a month. Keeping that under 28% of gross income takes about $51,776 a year.
More about Red Bud
- Mortgage Refinance in Red Bud
- Debt Relief in Red Bud
- Home Equity Loans in Red Bud
- 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