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Northfield

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

Median Home$747,165
Median Rent$2,028/month
Population5,818
Leading IndustriesEducation · Arts, Food & Hospitality · Healthcare6% education
Home Value Growth⬆⬆+14.2% over 2 years
Retirees23% of residentsslightly above average
Homeowners88% of occupied units
NotableHighly Educated35% bachelor's · 26% graduate · top 3% nationally
NotableHigh Incomes$150k/year · top 4% nationally
Northfield
IL

Frequently Asked Questions

What are today's mortgage rates in Northfield?

As of today, the 30-year fixed mortgage rate for Northfield is approximately 6.834% (6.838% 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 Northfield?

The median home value in Northfield is $747k. The median monthly rent is $2,028. Annual property taxes average $10k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Northfield?

Home values in Northfield have increased 14.2% 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 Northfield?

Based on a typical all-in ownership cost of $2,547/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $109k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Northfield is $150k/year.

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What industries drive the economy in Northfield?

The largest employment sectors in Northfield are public administration (22%) and healthcare (18%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.