Income needed to buy a home
Madison County, IL
$73,466
a year in household income to buy the typical Madison County home with 10% down.
The monthly math
Typical home value$199,448
Down payment (10%)$19,945
Loan$179,503
Principal and interest (7.40%)$1,243/mo
Property tax (1.79% a year)$297/mo
Homeowners insurance (estimate)$100/mo
Mortgage insurance$75/mo
Total monthly cost$1,714/mo
Income needed keeps housing at 28% of gross income, the lender rule of thumb.
What locals earn
Right at the edge
The typical household here earns $75,793 a year, 3% more than it takes.
In Illinois
Madison County ranks #78 of 102 for the income a home takes, from least to most.
Easiest to afford in Illinois
| County | Typical home | Income needed |
|---|---|---|
| Alexander County | $51,236 | $17,751 |
| Pulaski County | $74,037 | $25,267 |
| Scott County | $90,376 | $31,882 |
| Saline County | $88,425 | $32,129 |
| Gallatin County | $91,943 | $32,573 |
Typical home value from the Zillow Home Value Index, August 2026. Rate is the Freddie Mac 30-year average for Oct 8, 2026. Property tax rate is total taxes paid divided by total home value in the county (U.S. Census, ACS 2020-2024). How it works.