The typical owner-occupied home in Baileyville is worth about $822,900, 3.1 times the Illinois median of $263,300 and 2.5 times the national median of $332,700. Owners pay a median $5,417 a year in property taxes, about 0.66% of their home's value, lower than the Illinois rate of 2.01%. The median household earns $21,007 a year, so the median home costs 39.2 times the median income (3.2 times for Illinois). 76% of occupied homes here are lived in by their owners, and 94% of those owners still have a mortgage.
Baileyville at a glance
| Baileyville | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $822,900 | $263,300 | $332,700 |
| Median property tax paid per year | $5,417 | $5,298 | $3,119 |
| Property tax as a share of value | 0.66% | 2.01% | 0.94% |
| Median household income | $21,007 | $83,390 | $80,734 |
| Homes lived in by their owners | 76% | 67% | 65% |
| Owner homes with a mortgage | 94% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $2,733 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 51.0% | 20.6% | 21.0% |
| Median rent | – | $1,274 | $1,413 |
| Median year homes were built | 1938 | 1971 | 1980 |
| Vacant homes | 0.0% | 7.7% | 10.1% |
| Population | 99 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Baileyville
At this week's average 30-year rate of 7.11%, buying the median Baileyville home of $822,900 with 20% down costs about $5,224 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $6,727, 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 $223,887 for the 20%-down payment. That payment is 298% of the median Baileyville household income of $21,007; at that income and 20% down, the 28% guideline points to a home of about $77,000.
| Down payment | $164,580 |
|---|---|
| Loan amount | $658,320 |
| Principal and interest | $4,429 |
| Property taxes (0.66% a year) | $453 |
| Homeowners insurance (our estimate, 0.5% a year) | $343 |
| PMI | $0 |
| Total per month | $5,224 |
Change the numbers in the calculator
| Down payment | $28,802 |
|---|---|
| Loan amount | $807,995 |
| Principal and interest | $5,435 |
| Property taxes (0.66% a year) | $453 |
| Homeowners insurance (our estimate, 0.5% a year) | $343 |
| FHA mortgage insurance | $496 |
| Total per month | $6,727 |
Change the numbers in the calculator
Questions about home buying in Baileyville
What is the median home value in Baileyville?
About $822,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Baileyville?
Homeowners pay a median $5,417 a year, which is about 0.66% 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 Baileyville?
For the median home with 20% down at 7.11%, the payment is about $5,224 a month. Keeping that under 28% of gross income takes about $223,887 a year.
More about Baileyville
- Mortgage Refinance in Baileyville
- Debt Relief in Baileyville
- Home Equity Loans in Baileyville
- 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