The typical owner-occupied home in Carlock is worth about $154,600, 41% below the Illinois median of $263,300 and 54% below the national median of $332,700. Owners pay a median $3,263 a year in property taxes, about 2.11% of their home's value, close to the Illinois rate of 2.01%. The median household earns $85,625 a year, so the median home costs 1.8 times the median income (3.2 times for Illinois). 86% of occupied homes here are lived in by their owners, and 70% of those owners still have a mortgage.
Carlock at a glance
| Carlock | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $154,600 | $263,300 | $332,700 |
| Median property tax paid per year | $3,263 | $5,298 | $3,119 |
| Property tax as a share of value | 2.11% | 2.01% | 0.94% |
| Median household income | $85,625 | $83,390 | $80,734 |
| Homes lived in by their owners | 86% | 67% | 65% |
| Owner homes with a mortgage | 70% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,229 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 19.8% | 20.6% | 21.0% |
| Median rent | $1,348 | $1,274 | $1,413 |
| Rent as a share of renters' income | 9.0% | 29.1% | 30.6% |
| Median year homes were built | 1943 | 1971 | 1980 |
| Vacant homes | 10.0% | 7.7% | 10.1% |
| Population | 500 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Carlock
At this week's average 30-year rate of 7.11%, buying the median Carlock home of $154,600 with 20% down costs about $1,168 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,426, 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 $50,068 for the 20%-down payment. That payment is 16% of the median Carlock household income of $85,625; at that income and 20% down, the 28% guideline points to a home of about $264,000.
The median rent here is $1,348 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $30,920 |
|---|---|
| Loan amount | $123,680 |
| Principal and interest | $832 |
| Property taxes (2.11% a year) | $272 |
| Homeowners insurance (our estimate, 0.5% a year) | $64 |
| PMI | $0 |
| Total per month | $1,168 |
Change the numbers in the calculator
| Down payment | $5,411 |
|---|---|
| Loan amount | $151,800 |
| Principal and interest | $1,021 |
| Property taxes (2.11% a year) | $272 |
| Homeowners insurance (our estimate, 0.5% a year) | $64 |
| FHA mortgage insurance | $68 |
| Total per month | $1,426 |
Change the numbers in the calculator
Questions about home buying in Carlock
What is the median home value in Carlock?
About $154,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Carlock?
Homeowners pay a median $3,263 a year, which is about 2.11% 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 Carlock?
For the median home with 20% down at 7.11%, the payment is about $1,168 a month. Keeping that under 28% of gross income takes about $50,068 a year.
More about Carlock
- Mortgage Refinance in Carlock
- Debt Relief in Carlock
- Home Equity Loans in Carlock
- 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