The typical owner-occupied home in Rockford is worth about $135,400, 37% below the Ohio median of $214,800 and 59% below the national median of $332,700. Owners pay a median $1,330 a year in property taxes, about 0.98% of their home's value, lower than the Ohio rate of 1.31%. The median household earns $57,833 a year, so the median home costs 2.3 times the median income (3.0 times for Ohio). 71% of occupied homes here are lived in by their owners, and 58% of those owners still have a mortgage.
Rockford at a glance
| Rockford | Ohio | U.S. | |
|---|---|---|---|
| Median home value | $135,400 | $214,800 | $332,700 |
| Median property tax paid per year | $1,330 | $2,822 | $3,119 |
| Property tax as a share of value | 0.98% | 1.31% | 0.94% |
| Median household income | $57,833 | $71,389 | $80,734 |
| Homes lived in by their owners | 71% | 67% | 65% |
| Owner homes with a mortgage | 58% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,039 | $1,517 | $1,963 |
| Those costs as a share of the owners' income | 17.3% | 18.6% | 21.0% |
| Median rent | $805 | $1,034 | $1,413 |
| Rent as a share of renters' income | 30.7% | 28.3% | 30.6% |
| Median year homes were built | 1962 | 1970 | 1980 |
| Vacant homes | 9.7% | 8.1% | 10.1% |
| Population | 1,008 | 11,810,293 | 334,922,499 |
What a typical home costs per month in Rockford
At this week's average 30-year rate of 7.11%, buying the median Rockford home of $135,400 with 20% down costs about $896 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,121, 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 $38,386 for the 20%-down payment. That payment is 19% of the median Rockford household income of $57,833; at that income and 20% down, the 28% guideline points to a home of about $204,000.
The median rent here is $805 a month, so owning the median home costs about $91 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $27,080 |
|---|---|
| Loan amount | $108,320 |
| Principal and interest | $729 |
| Property taxes (0.98% a year) | $111 |
| Homeowners insurance (our estimate, 0.5% a year) | $56 |
| PMI | $0 |
| Total per month | $896 |
Change the numbers in the calculator
| Down payment | $4,739 |
|---|---|
| Loan amount | $132,948 |
| Principal and interest | $894 |
| Property taxes (0.98% a year) | $111 |
| Homeowners insurance (our estimate, 0.5% a year) | $56 |
| FHA mortgage insurance | $60 |
| Total per month | $1,121 |
Change the numbers in the calculator
Questions about home buying in Rockford
What is the median home value in Rockford?
About $135,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Rockford?
Homeowners pay a median $1,330 a year, which is about 0.98% 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 Rockford?
For the median home with 20% down at 7.11%, the payment is about $896 a month. Keeping that under 28% of gross income takes about $38,386 a year.
More about Rockford
- Mortgage Refinance in Rockford
- Debt Relief in Rockford
- Home Equity Loans in Rockford
- 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