The typical owner-occupied home in Devon is worth about $761,000, 3.0 times the Pennsylvania median of $254,500 and 2.3 times the national median of $332,700. Owners pay a median $7,057 a year in property taxes, about 0.93% of their home's value, lower than the Pennsylvania rate of 1.30%. The median household earns $219,063 a year, so the median home costs 3.5 times the median income (3.3 times for Pennsylvania). 95% of occupied homes here are lived in by their owners, and 70% of those owners still have a mortgage.
Devon at a glance
| Devon | Pennsylvania | U.S. | |
|---|---|---|---|
| Median home value | $761,000 | $254,500 | $332,700 |
| Median property tax paid per year | $7,057 | $3,311 | $3,119 |
| Property tax as a share of value | 0.93% | 1.30% | 0.94% |
| Median household income | $219,063 | $77,971 | $80,734 |
| Homes lived in by their owners | 95% | 69% | 65% |
| Owner homes with a mortgage | 70% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $3,396 | $1,762 | $1,963 |
| Those costs as a share of the owners' income | 13.7% | 19.4% | 21.0% |
| Median rent | – | $1,209 | $1,413 |
| Median year homes were built | 1949 | 1965 | 1980 |
| Vacant homes | 0.0% | 9.2% | 10.1% |
| Population | 1,806 | 13,018,639 | 334,922,499 |
What a typical home costs per month in Devon
At this week's average 30-year rate of 7.11%, buying the median Devon home of $761,000 with 20% down costs about $5,002 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $6,392, 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 $214,384 for the 20%-down payment. That payment is 27% of the median Devon household income of $219,063; at that income and 20% down, the 28% guideline points to a home of about $778,000.
| Down payment | $152,200 |
|---|---|
| Loan amount | $608,800 |
| Principal and interest | $4,095 |
| Property taxes (0.93% a year) | $590 |
| Homeowners insurance (our estimate, 0.5% a year) | $317 |
| PMI | $0 |
| Total per month | $5,002 |
Change the numbers in the calculator
| Down payment | $26,635 |
|---|---|
| Loan amount | $747,216 |
| Principal and interest | $5,027 |
| Property taxes (0.93% a year) | $590 |
| Homeowners insurance (our estimate, 0.5% a year) | $317 |
| FHA mortgage insurance | $459 |
| Total per month | $6,392 |
Change the numbers in the calculator
Questions about home buying in Devon
What is the median home value in Devon?
About $761,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Devon?
Homeowners pay a median $7,057 a year, which is about 0.93% 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 Devon?
For the median home with 20% down at 7.11%, the payment is about $5,002 a month. Keeping that under 28% of gross income takes about $214,384 a year.
More about Devon
- Mortgage Refinance in Devon
- Debt Relief in Devon
- Home Equity Loans in Devon
- 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