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Grafton

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

Median Home$259,600
Median Rent$651/month
Population561
Leading IndustriesInformation & Media · Public Administration · Finance & Insurance10% information & media
Home Value Growth⬆⬆⬆+27.5% over 2 years
Retirees31% of residentswell above average
Homeowners87% of occupied units
NotableVeteran Community11% of residents · top 9% nationally
Grafton
IL

Frequently Asked Questions

What are today's mortgage rates in Grafton?

As of today, the 30-year fixed mortgage rate for Grafton is approximately 6.990% (6.999% 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 Grafton?

The median home value in Grafton is $260k. The median monthly rent is $651. Annual property taxes average $4k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Grafton?

Home values in Grafton have increased 27.5% 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 Grafton?

Based on a typical all-in ownership cost of $1,034/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $44k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Grafton is $74k/year.

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What industries drive the economy in Grafton?

The largest employment sectors in Grafton are public administration (31%) and wholesale trade (12%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.