The typical owner-occupied home in Braidwood is worth about $202,500, 23% below the Illinois median of $263,300 and 39% below the national median of $332,700. Owners pay a median $3,686 a year in property taxes, about 1.82% of their home's value, lower than the Illinois rate of 2.01%. The median household earns $82,202 a year, so the median home costs 2.5 times the median income (3.2 times for Illinois). 87% of occupied homes here are lived in by their owners, and 62% of those owners still have a mortgage.
Braidwood at a glance
| Braidwood | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $202,500 | $263,300 | $332,700 |
| Median property tax paid per year | $3,686 | $5,298 | $3,119 |
| Property tax as a share of value | 1.82% | 2.01% | 0.94% |
| Median household income | $82,202 | $83,390 | $80,734 |
| Homes lived in by their owners | 87% | 67% | 65% |
| Owner homes with a mortgage | 62% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,450 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 21.6% | 20.6% | 21.0% |
| Median rent | $1,044 | $1,274 | $1,413 |
| Rent as a share of renters' income | 36.8% | 29.1% | 30.6% |
| Median year homes were built | 1994 | 1971 | 1980 |
| Vacant homes | 12.7% | 7.7% | 10.1% |
| Population | 6,062 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Braidwood
At this week's average 30-year rate of 7.11%, buying the median Braidwood home of $202,500 with 20% down costs about $1,481 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,819, 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 $63,483 for the 20%-down payment. That payment is 22% of the median Braidwood household income of $82,202; at that income and 20% down, the 28% guideline points to a home of about $262,000.
The median rent here is $1,044 a month, so owning the median home costs about $437 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $40,500 |
|---|---|
| Loan amount | $162,000 |
| Principal and interest | $1,090 |
| Property taxes (1.82% a year) | $307 |
| Homeowners insurance (our estimate, 0.5% a year) | $84 |
| PMI | $0 |
| Total per month | $1,481 |
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| Down payment | $7,088 |
|---|---|
| Loan amount | $198,832 |
| Principal and interest | $1,338 |
| Property taxes (1.82% a year) | $307 |
| Homeowners insurance (our estimate, 0.5% a year) | $84 |
| FHA mortgage insurance | $90 |
| Total per month | $1,819 |
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Questions about home buying in Braidwood
What is the median home value in Braidwood?
About $202,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Braidwood?
Homeowners pay a median $3,686 a year, which is about 1.82% 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 Braidwood?
For the median home with 20% down at 7.11%, the payment is about $1,481 a month. Keeping that under 28% of gross income takes about $63,483 a year.
More about Braidwood
- Mortgage Refinance in Braidwood
- Debt Relief in Braidwood
- Home Equity Loans in Braidwood
- 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