The typical owner-occupied home in Woodford County is worth about $197,600, 25% below the Illinois median of $263,300 and 41% below the national median of $332,700. Owners pay a median $4,215 a year in property taxes, about 2.13% of their home's value, higher than the Illinois rate of 2.01%. The median household earns $91,483 a year, so the median home costs 2.2 times the median income (3.2 times for Illinois). 86% of occupied homes here are lived in by their owners, and 57% of those owners still have a mortgage.
Woodford County at a glance
| Woodford County | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $197,600 | $263,300 | $332,700 |
| Median property tax paid per year | $4,215 | $5,298 | $3,119 |
| Property tax as a share of value | 2.13% | 2.01% | 0.94% |
| Median household income | $91,483 | $83,390 | $80,734 |
| Homes lived in by their owners | 86% | 67% | 65% |
| Owner homes with a mortgage | 57% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,659 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 17.8% | 20.6% | 21.0% |
| Median rent | $912 | $1,274 | $1,413 |
| Rent as a share of renters' income | 27.4% | 29.1% | 30.6% |
| Median year homes were built | 1972 | 1971 | 1980 |
| Vacant homes | 6.8% | 7.7% | 10.1% |
| Population | 38,312 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Woodford County
At this week's average 30-year rate of 7.11%, buying the median Woodford County home of $197,600 with 20% down costs about $1,496 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,826, 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 $64,135 for the 20%-down payment. That payment is 20% of the median Woodford County household income of $91,483; at that income and 20% down, the 28% guideline points to a home of about $282,000.
The median rent here is $912 a month, so owning the median home costs about $584 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $39,520 |
|---|---|
| Loan amount | $158,080 |
| Principal and interest | $1,063 |
| Property taxes (2.13% a year) | $351 |
| Homeowners insurance (our estimate, 0.5% a year) | $82 |
| PMI | $0 |
| Total per month | $1,496 |
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| Down payment | $6,916 |
|---|---|
| Loan amount | $194,021 |
| Principal and interest | $1,305 |
| Property taxes (2.13% a year) | $351 |
| Homeowners insurance (our estimate, 0.5% a year) | $82 |
| FHA mortgage insurance | $87 |
| Total per month | $1,826 |
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Questions about home buying in Woodford County
What is the median home value in Woodford County?
About $197,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Woodford County?
Homeowners pay a median $4,215 a year, which is about 2.13% 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 Woodford County?
For the median home with 20% down at 7.11%, the payment is about $1,496 a month. Keeping that under 28% of gross income takes about $64,135 a year.
More about Woodford County
- Mortgage Refinance in Woodford County
- Debt Relief in Woodford County
- Home Equity Loans in Woodford County
- 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