The typical owner-occupied home in Colp is worth about $69,300, 74% below the Illinois median of $263,300 and 79% below the national median of $332,700. Owners pay a median $1,194 a year in property taxes, about 1.72% of their home's value, lower than the Illinois rate of 2.01%. 75% of occupied homes here are lived in by their owners, and 27% of those owners still have a mortgage.
Colp at a glance
| Colp | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $69,300 | $263,300 | $332,700 |
| Median property tax paid per year | $1,194 | $5,298 | $3,119 |
| Property tax as a share of value | 1.72% | 2.01% | 0.94% |
| Median household income | – | $83,390 | $80,734 |
| Homes lived in by their owners | 75% | 67% | 65% |
| Owner homes with a mortgage | 27% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $993 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 15.3% | 20.6% | 21.0% |
| Median rent | $99 | $1,274 | $1,413 |
| Rent as a share of renters' income | 32.5% | 29.1% | 30.6% |
| Median year homes were built | 1975 | 1971 | 1980 |
| Vacant homes | 10.3% | 7.7% | 10.1% |
| Population | 223 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Colp
At this week's average 30-year rate of 7.11%, buying the median Colp home of $69,300 with 20% down costs about $501 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $617, 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 $21,478 for the 20%-down payment.
The median rent here is $99 a month, so owning the median home costs about $402 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $13,860 |
|---|---|
| Loan amount | $55,440 |
| Principal and interest | $373 |
| Property taxes (1.72% a year) | $99 |
| Homeowners insurance (our estimate, 0.5% a year) | $29 |
| PMI | $0 |
| Total per month | $501 |
Change the numbers in the calculator
| Down payment | $2,426 |
|---|---|
| Loan amount | $68,045 |
| Principal and interest | $458 |
| Property taxes (1.72% a year) | $99 |
| Homeowners insurance (our estimate, 0.5% a year) | $29 |
| FHA mortgage insurance | $31 |
| Total per month | $617 |
Change the numbers in the calculator
Questions about home buying in Colp
What is the median home value in Colp?
About $69,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Colp?
Homeowners pay a median $1,194 a year, which is about 1.72% 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 Colp?
For the median home with 20% down at 7.11%, the payment is about $501 a month. Keeping that under 28% of gross income takes about $21,478 a year.
More about Colp
- Mortgage Refinance in Colp
- Debt Relief in Colp
- Home Equity Loans in Colp
- 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