Springfield is Illinois's state capital and home to government, healthcare, and education employment. Sangamon County's high property tax rate and low home prices result in a tax-heavy monthly payment relative to the loan amount — buyers at this price point should carefully model their full PITI costs.
Recommended for incomes above $55k/yr (28% DTI rule)
Springfield housing market
The 2.35% property tax rate reflects the county-level effective rate for Springfield and is used to calculate your monthly tax escrow above. This rate may differ from the statewide Illinois average — county-level data produces more accurate monthly payment estimates for Springfield buyers. Many Springfield properties also carry HOA fees — the area average is approximately $50/month, which is not included in the calculator above.
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