The typical owner-occupied home in Rockford is worth about $328,600, 42% below the Washington median of $564,600 and about the same as the national median of $332,700. Owners pay a median $2,339 a year in property taxes, about 0.71% of their home's value, lower than the Washington rate of 0.81%. The median household earns $73,661 a year, so the median home costs 4.5 times the median income (5.8 times for Washington). 92% of occupied homes here are lived in by their owners, and 74% of those owners still have a mortgage.
Rockford at a glance
| Rockford | Washington | U.S. | |
|---|---|---|---|
| Median home value | $328,600 | $564,600 | $332,700 |
| Median property tax paid per year | $2,339 | $4,556 | $3,119 |
| Property tax as a share of value | 0.71% | 0.81% | 0.94% |
| Median household income | $73,661 | $98,141 | $80,734 |
| Homes lived in by their owners | 92% | 64% | 65% |
| Owner homes with a mortgage | 74% | 66% | 61% |
| Median monthly costs, owners with a mortgage | $1,620 | $2,445 | $1,963 |
| Those costs as a share of the owners' income | 26.6% | 22.2% | 21.0% |
| Median rent | $992 | $1,760 | $1,413 |
| Rent as a share of renters' income | 37.1% | 30.0% | 30.6% |
| Median year homes were built | 1974 | 1985 | 1980 |
| Vacant homes | 12.8% | 7.3% | 10.1% |
| Population | 493 | 7,816,116 | 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 $328,600 with 20% down costs about $2,100 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,647, 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 $89,989 for the 20%-down payment. That payment is 34% of the median Rockford household income of $73,661; at that income and 20% down, the 28% guideline points to a home of about $269,000.
The median rent here is $992 a month, so owning the median home costs about $1,108 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $65,720 |
|---|---|
| Loan amount | $262,880 |
| Principal and interest | $1,768 |
| Property taxes (0.71% a year) | $194 |
| Homeowners insurance (our estimate, 0.5% a year) | $137 |
| PMI | $0 |
| Total per month | $2,100 |
Change the numbers in the calculator
| Down payment | $11,501 |
|---|---|
| Loan amount | $322,648 |
| Principal and interest | $2,170 |
| Property taxes (0.71% a year) | $194 |
| Homeowners insurance (our estimate, 0.5% a year) | $137 |
| FHA mortgage insurance | $145 |
| Total per month | $2,647 |
Change the numbers in the calculator
Questions about home buying in Rockford
What is the median home value in Rockford?
About $328,600 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 $2,339 a year, which is about 0.71% 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 $2,100 a month. Keeping that under 28% of gross income takes about $89,989 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