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New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

Morton Grove, IL Housing Affordability Index

Morton Grove, Illinois has an MBR Housing Affordability Index score of 94.4 (Near National Average) as of October 30, 2026, ranking 1159th most affordable of 1,249 scored Illinois cities, compared with 102.2 statewide and 97.4 nationally. On a median-priced $389,100 home with 20% down, the Illinois average 30-year fixed rate of 7.31% means a monthly principal and interest payment of about $2,137, or 23% of the city’s $111,116 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Morton Grove is updated every night from live Illinois mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

Morton Grove MBR-HAI 94.4 Near National Average
Rank in Illinois 1,159 of 1,249 1 = most affordable
Illinois 102.2 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.31% Illinois lenders
Median home value $389,100 U.S. Census Bureau

Morton Grove is 7.8 points below the Illinois score. Scores as of October 30, 2026. See the Illinois index

View Morton Grove Mortgage Rates

What It Takes to Buy in Morton Grove

$2,137/mo
Principal & Interest
Median home, 20% down, 7.31%
$91,600
Income Needed
To keep the payment at 28% of income
$111,116
Median Household Income
Illinois: $83,390
3.5x
Price-to-Income Ratio
Illinois: 3.2x
$1,823/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$8,501/yr
Median Property Tax
2.18% of median value
31.7%
Owner Cost Burden
Owners spending 30%+ of income on housing
42.9%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for Morton Grove, Illinois. The rate is the Illinois average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

Cite the Morton Grove Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Morton Grove, Illinois score: 94.4 (Near National Average), ranked 1,159 of 1,249 Illinois cities. monitorbankrates.com/housing-affordability-index/illinois/morton-grove”