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Shumway

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

Median Home$287,400
Median Rent$824/month
Population179
Leading IndustriesRetail · Construction · Agriculture & Mining18% retail
Home Value Growth⬆⬆⬆+26.3% over 2 years
Family-Friendly25% of residentsslightly above average
Homeowners85% of occupied units
NotableHigh Incomes$98k/year · top 18% nationally
Shumway
IL

Frequently Asked Questions

What are today's mortgage rates in Shumway?

As of today, the 30-year fixed mortgage rate for Shumway 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 Shumway?

The median home value in Shumway is $287k. The median monthly rent is $824. Annual property taxes average $4k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Shumway?

Home values in Shumway have increased 26.3% 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 Shumway?

Based on a typical all-in ownership cost of $907/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $39k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Shumway is $98k/year.

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What industries drive the economy in Shumway?

The largest employment sectors in Shumway are public administration (23%) and retail (18%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.