The typical owner-occupied home in Wayne County is worth about $110,700, 58% below the Illinois median of $263,300 and 67% below the national median of $332,700. Owners pay a median $1,653 a year in property taxes, about 1.49% of their home's value, lower than the Illinois rate of 2.01%. The median household earns $55,521 a year, so the median home costs 2.0 times the median income (3.2 times for Illinois). 78% of occupied homes here are lived in by their owners, and 46% of those owners still have a mortgage.
Wayne County at a glance
| Wayne County | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $110,700 | $263,300 | $332,700 |
| Median property tax paid per year | $1,653 | $5,298 | $3,119 |
| Property tax as a share of value | 1.49% | 2.01% | 0.94% |
| Median household income | $55,521 | $83,390 | $80,734 |
| Homes lived in by their owners | 78% | 67% | 65% |
| Owner homes with a mortgage | 46% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,178 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 19.8% | 20.6% | 21.0% |
| Median rent | $657 | $1,274 | $1,413 |
| Rent as a share of renters' income | 25.4% | 29.1% | 30.6% |
| Median year homes were built | 1974 | 1971 | 1980 |
| Vacant homes | 10.6% | 7.7% | 10.1% |
| Population | 15,973 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Wayne County
At this week's average 30-year rate of 7.11%, buying the median Wayne County home of $110,700 with 20% down costs about $779 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $964, 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 $33,400 for the 20%-down payment. That payment is 17% of the median Wayne County household income of $55,521; at that income and 20% down, the 28% guideline points to a home of about $184,000.
The median rent here is $657 a month, so owning the median home costs about $122 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $22,140 |
|---|---|
| Loan amount | $88,560 |
| Principal and interest | $596 |
| Property taxes (1.49% a year) | $137 |
| Homeowners insurance (our estimate, 0.5% a year) | $46 |
| PMI | $0 |
| Total per month | $779 |
Change the numbers in the calculator
| Down payment | $3,874 |
|---|---|
| Loan amount | $108,695 |
| Principal and interest | $731 |
| Property taxes (1.49% a year) | $137 |
| Homeowners insurance (our estimate, 0.5% a year) | $46 |
| FHA mortgage insurance | $49 |
| Total per month | $964 |
Change the numbers in the calculator
Questions about home buying in Wayne County
What is the median home value in Wayne County?
About $110,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Wayne County?
Homeowners pay a median $1,653 a year, which is about 1.49% 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 Wayne County?
For the median home with 20% down at 7.11%, the payment is about $779 a month. Keeping that under 28% of gross income takes about $33,400 a year.
More about Wayne County
- Mortgage Refinance in Wayne County
- Debt Relief in Wayne County
- Home Equity Loans in Wayne County
- 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