The typical owner-occupied home in Ilion is worth about $108,700, 74% below the New York median of $423,800 and 67% below the national median of $332,700. Owners pay a median $2,958 a year in property taxes, about 2.72% of their home's value, higher than the New York rate of 1.55%. The median household earns $62,843 a year, so the median home costs 1.7 times the median income (4.9 times for New York). 66% of occupied homes here are lived in by their owners, and 48% of those owners still have a mortgage.
Ilion at a glance
| Ilion | New York | U.S. | |
|---|---|---|---|
| Median home value | $108,700 | $423,800 | $332,700 |
| Median property tax paid per year | $2,958 | $6,582 | $3,119 |
| Property tax as a share of value | 2.72% | 1.55% | 0.94% |
| Median household income | $62,843 | $85,974 | $80,734 |
| Homes lived in by their owners | 66% | 54% | 65% |
| Owner homes with a mortgage | 48% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,032 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 14.3% | 22.5% | 21.0% |
| Median rent | $694 | $1,621 | $1,413 |
| Rent as a share of renters' income | 24.7% | 31.2% | 30.6% |
| Median year homes were built | 1938 | 1959 | 1980 |
| Vacant homes | 9.4% | 10.0% | 10.1% |
| Population | 7,593 | 19,852,366 | 334,922,499 |
What a typical home costs per month in Ilion
At this week's average 30-year rate of 7.11%, buying the median Ilion home of $108,700 with 20% down costs about $877 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,058, 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 $37,572 for the 20%-down payment. That payment is 17% of the median Ilion household income of $62,843; at that income and 20% down, the 28% guideline points to a home of about $182,000.
The median rent here is $694 a month, so owning the median home costs about $183 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $21,740 |
|---|---|
| Loan amount | $86,960 |
| Principal and interest | $585 |
| Property taxes (2.72% a year) | $246 |
| Homeowners insurance (our estimate, 0.5% a year) | $45 |
| PMI | $0 |
| Total per month | $877 |
Change the numbers in the calculator
| Down payment | $3,804 |
|---|---|
| Loan amount | $106,731 |
| Principal and interest | $718 |
| Property taxes (2.72% a year) | $246 |
| Homeowners insurance (our estimate, 0.5% a year) | $45 |
| FHA mortgage insurance | $48 |
| Total per month | $1,058 |
Change the numbers in the calculator
Questions about home buying in Ilion
What is the median home value in Ilion?
About $108,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Ilion?
Homeowners pay a median $2,958 a year, which is about 2.72% 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 Ilion?
For the median home with 20% down at 7.11%, the payment is about $877 a month. Keeping that under 28% of gross income takes about $37,572 a year.
More about Ilion
- Mortgage Refinance in Ilion
- Debt Relief in Ilion
- Home Equity Loans in Ilion
- 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