The typical owner-occupied home in Rantoul is worth about $120,200, 45% below the Kansas median of $217,200 and 64% below the national median of $332,700. Owners pay a median $1,140 a year in property taxes, about 0.95% of their home's value, lower than the Kansas rate of 1.29%. The median household earns $60,000 a year, so the median home costs 2.0 times the median income (2.9 times for Kansas). 92% of occupied homes here are lived in by their owners, and 59% of those owners still have a mortgage.
Rantoul at a glance
| Rantoul | Kansas | U.S. | |
|---|---|---|---|
| Median home value | $120,200 | $217,200 | $332,700 |
| Median property tax paid per year | $1,140 | $2,798 | $3,119 |
| Property tax as a share of value | 0.95% | 1.29% | 0.94% |
| Median household income | $60,000 | $74,275 | $80,734 |
| Homes lived in by their owners | 92% | 67% | 65% |
| Owner homes with a mortgage | 59% | 57% | 61% |
| Median monthly costs, owners with a mortgage | $1,170 | $1,689 | $1,963 |
| Those costs as a share of the owners' income | 19.0% | 19.4% | 21.0% |
| Median rent | – | $1,060 | $1,413 |
| Median year homes were built | 1977 | 1976 | 1980 |
| Vacant homes | 15.8% | 9.2% | 10.1% |
| Population | 130 | 2,947,197 | 334,922,499 |
What a typical home costs per month in Rantoul
At this week's average 30-year rate of 7.11%, buying the median Rantoul home of $120,200 with 20% down costs about $792 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $992, 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 $33,948 for the 20%-down payment. That payment is 16% of the median Rantoul household income of $60,000; at that income and 20% down, the 28% guideline points to a home of about $212,000.
| Down payment | $24,040 |
|---|---|
| Loan amount | $96,160 |
| Principal and interest | $647 |
| Property taxes (0.95% a year) | $95 |
| Homeowners insurance (our estimate, 0.5% a year) | $50 |
| PMI | $0 |
| Total per month | $792 |
Change the numbers in the calculator
| Down payment | $4,207 |
|---|---|
| Loan amount | $118,023 |
| Principal and interest | $794 |
| Property taxes (0.95% a year) | $95 |
| Homeowners insurance (our estimate, 0.5% a year) | $50 |
| FHA mortgage insurance | $53 |
| Total per month | $992 |
Change the numbers in the calculator
Questions about home buying in Rantoul
What is the median home value in Rantoul?
About $120,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Rantoul?
Homeowners pay a median $1,140 a year, which is about 0.95% 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 Rantoul?
For the median home with 20% down at 7.11%, the payment is about $792 a month. Keeping that under 28% of gross income takes about $33,948 a year.
More about Rantoul
- Mortgage Refinance in Rantoul
- Debt Relief in Rantoul
- Home Equity Loans in Rantoul
- 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