Home Affordability in Naperville, IL
The median home price in Naperville is $500,000 with a median household income of $126,577. Housing is moderately affordable relative to local incomes.
Median Home Price
$500,000
Median Income
$126,577
Price-to-Income Ratio
4.0x
Est. Affordable Home
$492,000
Property Tax Rate
2.05%
Annual Property Tax
$10,250
Sales Tax Rate
7.75%
Cost of Living Index
118
Buying a Home in Naperville
Based on the 28% rule (spending no more than 28% of gross income on housing), a household earning the median income of $126,577 in Naperville can afford a monthly housing payment of approximately $2,953. This translates to a home price of roughly $492,000, which is below the median home price of $500,000 — many households may need a higher income, larger down payment, or should consider more affordable neighborhoods.
Property taxes on a median-priced home in Naperville would be approximately $10,250 per year ($854/month) at the effective rate of 2.05%.
Down Payment Scenarios
| Down Payment | Amount | Loan Amount | PMI Required |
|---|---|---|---|
| 3% | $15,000 | $485,000 | Yes |
| 5% | $25,000 | $475,000 | Yes |
| 10% | $50,000 | $450,000 | Yes |
| 20% | $100,000 | $400,000 | No |
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