The typical owner-occupied home in Farmersville is worth about $116,900, 56% below the Illinois median of $263,300 and 65% below the national median of $332,700. Owners pay a median $2,850 a year in property taxes, about 2.44% of their home's value, higher than the Illinois rate of 2.01%. The median household earns $63,750 a year, so the median home costs 1.8 times the median income (3.2 times for Illinois). 80% of occupied homes here are lived in by their owners, and 70% of those owners still have a mortgage.
Farmersville at a glance
| Farmersville | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $116,900 | $263,300 | $332,700 |
| Median property tax paid per year | $2,850 | $5,298 | $3,119 |
| Property tax as a share of value | 2.44% | 2.01% | 0.94% |
| Median household income | $63,750 | $83,390 | $80,734 |
| Homes lived in by their owners | 80% | 67% | 65% |
| Owner homes with a mortgage | 70% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,281 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 25.1% | 20.6% | 21.0% |
| Median rent | $764 | $1,274 | $1,413 |
| Rent as a share of renters' income | 26.1% | 29.1% | 30.6% |
| Median year homes were built | 1963 | 1971 | 1980 |
| Vacant homes | 13.6% | 7.7% | 10.1% |
| Population | 763 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Farmersville
At this week's average 30-year rate of 7.11%, buying the median Farmersville home of $116,900 with 20% down costs about $916 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,110, 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 $39,237 for the 20%-down payment. That payment is 17% of the median Farmersville household income of $63,750; at that income and 20% down, the 28% guideline points to a home of about $190,000.
The median rent here is $764 a month, so owning the median home costs about $152 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $23,380 |
|---|---|
| Loan amount | $93,520 |
| Principal and interest | $629 |
| Property taxes (2.44% a year) | $238 |
| Homeowners insurance (our estimate, 0.5% a year) | $49 |
| PMI | $0 |
| Total per month | $916 |
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| Down payment | $4,092 |
|---|---|
| Loan amount | $114,783 |
| Principal and interest | $772 |
| Property taxes (2.44% a year) | $238 |
| Homeowners insurance (our estimate, 0.5% a year) | $49 |
| FHA mortgage insurance | $52 |
| Total per month | $1,110 |
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Questions about home buying in Farmersville
What is the median home value in Farmersville?
About $116,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Farmersville?
Homeowners pay a median $2,850 a year, which is about 2.44% 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 Farmersville?
For the median home with 20% down at 7.11%, the payment is about $916 a month. Keeping that under 28% of gross income takes about $39,237 a year.
More about Farmersville
- Mortgage Refinance in Farmersville
- Debt Relief in Farmersville
- Home Equity Loans in Farmersville
- 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