Income needed to buy a home
Montgomery County, IL
$46,524
a year in household income to buy the typical Montgomery County home with 10% down.
The monthly math
Typical home value$132,310
Down payment (10%)$13,231
Loan$119,079
Principal and interest (7.40%)$824/mo
Property tax (1.32% a year)$145/mo
Homeowners insurance (estimate)$66/mo
Mortgage insurance$50/mo
Total monthly cost$1,086/mo
Income needed keeps housing at 28% of gross income, the lender rule of thumb.
What locals earn
Within reach
The typical household here earns $63,620 a year, 37% more than it takes.
In Illinois
Montgomery County ranks #31 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.