Madison County, Illinois home prices
Typical home $197,597 · +5.3% in a year · property tax 1.92%
The typical home in Madison County is worth $197,597, 33% less than the Illinois typical home ($295,943). Values changed +5.3% in the past year and +31.7% over five years. Homeowners here pay a median 1.92% of their home's value in property tax each year ($3,791 on the typical home), versus 1.92% statewide.
Mortgage on the typical Madison County home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $39,519 | $158,078 | $1,063 | $0 | $415 | $1,478 | $63,300 |
| 10% down | $19,760 | $177,837 | $1,196 | $74 | $415 | $1,685 | $72,200 |
| 5% down | $9,880 | $187,717 | $1,263 | $78 | $415 | $1,756 | $75,200 |
| 3.5% down (FHA) | $6,916 | $194,018 | $1,305 | $87 | $415 | $1,807 | $77,500 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.92% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
What it takes: see what you can afford by salary in Illinois · part of the St. Louis metro area.
Illinois counties with similar prices
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Calhoun County | $198,789 | +7.3% | 1.39% |
| Sangamon County | $200,144 | +7.5% | 1.99% |
| La Salle County | $194,863 | +5.4% | 2.11% |
| Jersey County | $203,810 | +3.9% | 1.76% |
| Tazewell County | $189,622 | +6.5% | 2.11% |
| Putnam County | $189,069 | +3.8% | 1.57% |
| Lee County | $188,606 | +6.6% | 1.97% |
| Adams County | $186,171 | +6.6% | 1.58% |
| Menard County | $209,256 | +7.0% | 1.72% |
| Moultrie County | $185,755 | +7.2% | 1.8% |
Frequently asked questions
What is the average home price in Madison County, IL?
The typical home value in Madison County is $197,597 (Zillow Home Value Index, September 2026).
How much do you need to earn to buy a house in Madison County?
About $63,300 a year for the typical home with 20% down at a 7.11% 30-year rate.
What is the property tax rate in Madison County?
The median effective rate is 1.92% of home value a year (Census ACS 2024 5-year estimates).