The typical owner-occupied home in Rock Falls is worth about $83,900, 68% below the Illinois median of $263,300 and 75% below the national median of $332,700. Owners pay a median $2,112 a year in property taxes, about 2.52% of their home's value, higher than the Illinois rate of 2.01%. The median household earns $49,600 a year, so the median home costs 1.7 times the median income (3.2 times for Illinois). 67% of occupied homes here are lived in by their owners, and 62% of those owners still have a mortgage.
Rock Falls at a glance
| Rock Falls | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $83,900 | $263,300 | $332,700 |
| Median property tax paid per year | $2,112 | $5,298 | $3,119 |
| Property tax as a share of value | 2.52% | 2.01% | 0.94% |
| Median household income | $49,600 | $83,390 | $80,734 |
| Homes lived in by their owners | 67% | 67% | 65% |
| Owner homes with a mortgage | 62% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,038 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 21.5% | 20.6% | 21.0% |
| Median rent | $754 | $1,274 | $1,413 |
| Rent as a share of renters' income | 29.2% | 29.1% | 30.6% |
| Median year homes were built | 1961 | 1971 | 1980 |
| Vacant homes | 13.0% | 7.7% | 10.1% |
| Population | 8,587 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Rock Falls
At this week's average 30-year rate of 7.11%, buying the median Rock Falls home of $83,900 with 20% down costs about $663 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $802, 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 $28,400 for the 20%-down payment. That payment is 16% of the median Rock Falls household income of $49,600; at that income and 20% down, the 28% guideline points to a home of about $147,000.
The median rent here is $754 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $16,780 |
|---|---|
| Loan amount | $67,120 |
| Principal and interest | $452 |
| Property taxes (2.52% a year) | $176 |
| Homeowners insurance (our estimate, 0.5% a year) | $35 |
| PMI | $0 |
| Total per month | $663 |
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| Down payment | $2,936 |
|---|---|
| Loan amount | $82,380 |
| Principal and interest | $554 |
| Property taxes (2.52% a year) | $176 |
| Homeowners insurance (our estimate, 0.5% a year) | $35 |
| FHA mortgage insurance | $37 |
| Total per month | $802 |
Change the numbers in the calculator
Questions about home buying in Rock Falls
What is the median home value in Rock Falls?
About $83,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Rock Falls?
Homeowners pay a median $2,112 a year, which is about 2.52% 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 Rock Falls?
For the median home with 20% down at 7.11%, the payment is about $663 a month. Keeping that under 28% of gross income takes about $28,400 a year.
More about Rock Falls
- Mortgage Refinance in Rock Falls
- Debt Relief in Rock Falls
- Home Equity Loans in Rock Falls
- 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