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Paw Paw

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

Median Home$170,300
Median Rent$970/month
Population822
Leading IndustriesTransportation · Manufacturing · Construction6% transportation
Home Value Growth+4.8% over 2 years
Retirees24% of residentsslightly above average
Homeowners73% of occupied units
NotableTransit85/100 · excellent transit access
Paw Paw
IL

Frequently Asked Questions

What are today's mortgage rates in Paw Paw?

As of today, the 30-year fixed mortgage rate for Paw Paw is approximately 7.016% (7.026% 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 Paw Paw?

The median home value in Paw Paw is $170k. The median monthly rent is $970. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Paw Paw?

Home values in Paw Paw have increased 4.8% over the past two years. This represents moderate growth. 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 Paw Paw?

Based on a typical all-in ownership cost of $1,030/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 Paw Paw is $69k/year.

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What industries drive the economy in Paw Paw?

The largest employment sectors in Paw Paw are public administration (20%) and retail (14%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.