The typical owner-occupied home in Toulon is worth about $95,500, 64% below the Illinois median of $263,300 and 71% below the national median of $332,700. Owners pay a median $1,411 a year in property taxes, about 1.48% of their home's value, lower than the Illinois rate of 2.01%. The median household earns $59,167 a year, so the median home costs 1.6 times the median income (3.2 times for Illinois). 73% of occupied homes here are lived in by their owners, and 50% of those owners still have a mortgage.
Toulon at a glance
| Toulon | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $95,500 | $263,300 | $332,700 |
| Median property tax paid per year | $1,411 | $5,298 | $3,119 |
| Property tax as a share of value | 1.48% | 2.01% | 0.94% |
| Median household income | $59,167 | $83,390 | $80,734 |
| Homes lived in by their owners | 73% | 67% | 65% |
| Owner homes with a mortgage | 50% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,281 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 17.8% | 20.6% | 21.0% |
| Median rent | $714 | $1,274 | $1,413 |
| Rent as a share of renters' income | 23.5% | 29.1% | 30.6% |
| Median year homes were built | 1944 | 1971 | 1980 |
| Vacant homes | 15.4% | 7.7% | 10.1% |
| Population | 1,485 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Toulon
At this week's average 30-year rate of 7.11%, buying the median Toulon home of $95,500 with 20% down costs about $672 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $831, 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 $28,780 for the 20%-down payment. That payment is 14% of the median Toulon household income of $59,167; at that income and 20% down, the 28% guideline points to a home of about $196,000.
The median rent here is $714 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $19,100 |
|---|---|
| Loan amount | $76,400 |
| Principal and interest | $514 |
| Property taxes (1.48% a year) | $118 |
| Homeowners insurance (our estimate, 0.5% a year) | $40 |
| PMI | $0 |
| Total per month | $672 |
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| Down payment | $3,342 |
|---|---|
| Loan amount | $93,770 |
| Principal and interest | $631 |
| Property taxes (1.48% a year) | $118 |
| Homeowners insurance (our estimate, 0.5% a year) | $40 |
| FHA mortgage insurance | $42 |
| Total per month | $831 |
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Questions about home buying in Toulon
What is the median home value in Toulon?
About $95,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Toulon?
Homeowners pay a median $1,411 a year, which is about 1.48% 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 Toulon?
For the median home with 20% down at 7.11%, the payment is about $672 a month. Keeping that under 28% of gross income takes about $28,780 a year.
More about Toulon
- Mortgage Refinance in Toulon
- Debt Relief in Toulon
- Home Equity Loans in Toulon
- 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