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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

Mount Carroll, IL Housing Affordability Index

Mount Carroll, Illinois has an MBR Housing Affordability Index score of 176.0 (Highly Affordable) as of October 30, 2026, ranking 419th most affordable of 1,249 scored Illinois cities, compared with 102.2 statewide and 97.4 nationally. On a median-priced $86,600 home with 20% down, the Illinois average 30-year fixed rate of 7.31% means a monthly principal and interest payment of about $476, or 10% of the city’s $58,500 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Mount Carroll 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.

Mount Carroll MBR-HAI 176.0 Highly Affordable
Rank in Illinois 419 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 $86,600 U.S. Census Bureau

Mount Carroll is 73.8 points above the Illinois score. Scores as of October 30, 2026. See the Illinois index

View Mount Carroll Mortgage Rates

See What You Can Afford in Mount Carroll, Illinois

Use this Mount Carroll, Illinois home affordability calculator to see how much house you can afford at today’s Illinois average 30-year mortgage rate of 7.31%. A household earning the Mount Carroll median income of $58,500, with no other debts and $17,000 down, can afford a home of about $147,305, compared with a median home value of $86,600. Buying the median priced home with 20% down takes a household income of about $30,900 once property tax and insurance are counted.

Mount Carroll median (Census)
Car, student loan, card minimums
Under 20% adds PMI
Illinois average, 30-year fixed
Mount Carroll median bill (Census)
Estimate; use your quote
You can afford a home up to
$147,305
At or above the Mount Carroll median home value of $86,600
Loan amount$130,305
Principal & interest$895/mo
Property tax$355/mo
Home insurance$61/mo
PMI$54/mo
Total monthly payment$1,365/mo
Compare Mount Carroll Mortgage Rates

How much house can you afford in Mount Carroll?

Most lenders use two limits. Your housing payment, including principal, interest, property tax, homeowners insurance and any PMI, should stay under about 28% of your gross monthly income, and all of your monthly debt payments together should stay under about 36%. The calculator takes whichever limit is lower, then works backward from that payment to the most expensive home it covers at the current rate.

In Mount Carroll, property taxes run about 2.89% of a home’s value each year, based on the Census median tax bill, which counts against the same monthly budget as the mortgage. Each quarter point move in mortgage rates changes the price you can afford by roughly $2,165 for a median income household. A larger down payment, paying down other debts, or a lower rate from a local lender all raise your budget.

What It Takes to Buy in Mount Carroll

$476/mo
Principal & Interest
Median home, 20% down, 7.31%
$20,400
Income Needed
To keep principal and interest at 28% of income
$58,500
Median Household Income
Illinois: $83,390
1.5x
Price-to-Income Ratio
Illinois: 3.2x
$846/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$2,500/yr
Median Property Tax
2.89% of median value
29.0%
Owner Cost Burden
Owners spending 30%+ of income on housing
28.9%
Renter Cost Burden
Renters spending 30%+ of income on rent

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

Cite the Mount Carroll Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Mount Carroll, Illinois score: 176.0 (Highly Affordable), ranked 419 of 1,249 Illinois cities. monitorbankrates.com/housing-affordability-index/illinois/mount-carroll”