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Morrisonville

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

Median Home$183,000
Median Rent$759/month
Population1,017
Leading IndustriesEducation · Professional Services · Construction4% education
Home Value Growth⬆⬆+13.2% over 2 years
Retirees24% of residentsslightly above average
Homeowners90% of occupied units
NotableVeteran Community11% of residents · top 9% nationally
Morrisonville
IL

Frequently Asked Questions

What are today's mortgage rates in Morrisonville?

As of today, the 30-year fixed mortgage rate for Morrisonville is approximately 6.959% (6.970% 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 Morrisonville?

The median home value in Morrisonville is $183k. The median monthly rent is $759. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Morrisonville?

Home values in Morrisonville have increased 13.2% 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 Morrisonville?

Based on a typical all-in ownership cost of $942/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $40k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Morrisonville is $84k/year.

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What industries drive the economy in Morrisonville?

The largest employment sectors in Morrisonville are public administration (25%) and retail (8%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.