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Tovey

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

Median Home$102,600
Median Rent$941/month
Population423
Leading IndustriesTransportation · Professional Services · Manufacturing5% transportation
Home Value Growth+3.5% over 2 years
Retirees24% of residentsslightly above average
Homeowners81% of occupied units
Tovey
IL

Frequently Asked Questions

What are today's mortgage rates in Tovey?

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

The median home value in Tovey is $103k. The median monthly rent is $941. Annual property taxes average $1k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Tovey?

Home values in Tovey have increased 3.5% 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 Tovey?

Based on a typical all-in ownership cost of $835/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $36k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Tovey is $68k/year.

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What industries drive the economy in Tovey?

The largest employment sectors in Tovey are public administration (25%) and retail (7%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.