The typical owner-occupied home in Deer Grove is worth about $112,500, 57% below the Illinois median of $263,300 and 66% below the national median of $332,700. The median household earns $76,607 a year, so the median home costs 1.5 times the median income (3.2 times for Illinois). 100% of occupied homes here are lived in by their owners, and 20% of those owners still have a mortgage.
Deer Grove at a glance
| Deer Grove | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $112,500 | $263,300 | $332,700 |
| Median property tax paid per year | – | $5,298 | $3,119 |
| Median household income | $76,607 | $83,390 | $80,734 |
| Homes lived in by their owners | 100% | 67% | 65% |
| Owner homes with a mortgage | 20% | 61% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,987 | $1,963 |
| Median rent | – | $1,274 | $1,413 |
| Median year homes were built | 1938 | 1971 | 1980 |
| Vacant homes | 44.4% | 7.7% | 10.1% |
| Population | 36 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Deer Grove
At this week's average 30-year rate of 7.11%, buying the median Deer Grove home of $112,500 with 20% down costs about $755 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $943, 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 $32,376 for the 20%-down payment. That payment is 12% of the median Deer Grove household income of $76,607; at that income and 20% down, the 28% guideline points to a home of about $266,000.
| Down payment | $22,500 |
|---|---|
| Loan amount | $90,000 |
| Principal and interest | $605 |
| Property taxes (1.10% a year) | $103 |
| Homeowners insurance (our estimate, 0.5% a year) | $47 |
| PMI | $0 |
| Total per month | $755 |
Change the numbers in the calculator
| Down payment | $3,938 |
|---|---|
| Loan amount | $110,462 |
| Principal and interest | $743 |
| Property taxes (1.10% a year) | $103 |
| Homeowners insurance (our estimate, 0.5% a year) | $47 |
| FHA mortgage insurance | $50 |
| Total per month | $943 |
Change the numbers in the calculator
Questions about home buying in Deer Grove
What is the median home value in Deer Grove?
About $112,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Deer Grove?
For the median home with 20% down at 7.11%, the payment is about $755 a month. Keeping that under 28% of gross income takes about $32,376 a year.
More about Deer Grove
- Mortgage Refinance in Deer Grove
- Debt Relief in Deer Grove
- Home Equity Loans in Deer Grove
- 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