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Benson

Learn about the people, housing, costs and businesses in Benson, Illinois

Median Home$119,800
Median Rent$979/month
Population388
Leading IndustriesTransportation · Retail · Construction4% transportation
Home Value Growth⬆⬆⬆+36.4% over 2 years
Young Adults27% of residentsnear the national average
Homeowners78% of occupied units
Benson
IL

Frequently Asked Questions

What are today's mortgage rates in Benson?

As of today, the 30-year fixed mortgage rate for Benson is approximately 6.994% (7.003% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Benson?

The median home value in Benson is $120k. The median monthly rent is $979. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Benson?

Home values in Benson have increased 36.4% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Benson?

Based on a typical all-in ownership cost of $968/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $41k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Benson is $77k/year.

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What industries drive the economy in Benson?

The largest employment sectors in Benson are public administration (21%) and retail (19%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.