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Timberlane

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

Median Home$279,000
Median Rent$1,488/month
Population907
Leading IndustriesProfessional Services · Finance & Insurance · Retail2% professional services
Home Value Growth⬆⬆⬆+25.7% over 2 years
Young Adults32% of residentsabove average nationally
Homeowners95% of occupied units
NotableHigh Incomes$135k/year · top 6% nationally
Timberlane
IL

Frequently Asked Questions

What are today's mortgage rates in Timberlane?

As of today, the 30-year fixed mortgage rate for Timberlane is approximately 6.872% (6.878% 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 Timberlane?

The median home value in Timberlane is $279k. The median monthly rent is $1,488. Annual property taxes average $6k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Timberlane?

Home values in Timberlane have increased 25.7% 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 Timberlane?

Based on a typical all-in ownership cost of $1,646/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $71k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Timberlane is $135k/year.

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What industries drive the economy in Timberlane?

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