The typical owner-occupied home in Lockport is worth about $316,000, 20% above the Illinois median of $263,300 and 5% below the national median of $332,700. Owners pay a median $7,909 a year in property taxes, about 2.50% of their home's value, higher than the Illinois rate of 2.01%. The median household earns $111,981 a year, so the median home costs 2.8 times the median income (3.2 times for Illinois). 85% of occupied homes here are lived in by their owners, and 70% of those owners still have a mortgage.
Lockport at a glance
| Lockport | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $316,000 | $263,300 | $332,700 |
| Median property tax paid per year | $7,909 | $5,298 | $3,119 |
| Property tax as a share of value | 2.50% | 2.01% | 0.94% |
| Median household income | $111,981 | $83,390 | $80,734 |
| Homes lived in by their owners | 85% | 67% | 65% |
| Owner homes with a mortgage | 70% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $2,230 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 21.0% | 20.6% | 21.0% |
| Median rent | $1,525 | $1,274 | $1,413 |
| Rent as a share of renters' income | 37.1% | 29.1% | 30.6% |
| Median year homes were built | 1998 | 1971 | 1980 |
| Vacant homes | 3.0% | 7.7% | 10.1% |
| Population | 26,409 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Lockport
At this week's average 30-year rate of 7.11%, buying the median Lockport home of $316,000 with 20% down costs about $2,491 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,017, 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 $106,740 for the 20%-down payment. That payment is 27% of the median Lockport household income of $111,981; at that income and 20% down, the 28% guideline points to a home of about $332,000.
The median rent here is $1,525 a month, so owning the median home costs about $966 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $63,200 |
|---|---|
| Loan amount | $252,800 |
| Principal and interest | $1,701 |
| Property taxes (2.50% a year) | $658 |
| Homeowners insurance (our estimate, 0.5% a year) | $132 |
| PMI | $0 |
| Total per month | $2,491 |
Change the numbers in the calculator
| Down payment | $11,060 |
|---|---|
| Loan amount | $310,276 |
| Principal and interest | $2,087 |
| Property taxes (2.50% a year) | $658 |
| Homeowners insurance (our estimate, 0.5% a year) | $132 |
| FHA mortgage insurance | $140 |
| Total per month | $3,017 |
Change the numbers in the calculator
Questions about home buying in Lockport
What is the median home value in Lockport?
About $316,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Lockport?
Homeowners pay a median $7,909 a year, which is about 2.50% 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 Lockport?
For the median home with 20% down at 7.11%, the payment is about $2,491 a month. Keeping that under 28% of gross income takes about $106,740 a year.
More about Lockport
- Mortgage Refinance in Lockport
- Debt Relief in Lockport
- Home Equity Loans in Lockport
- 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