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City · 10,049 residents · Champaign County, Illinois

Mahomet , Illinois

In Mahomet, a typical home is worth $299,100 and typical rent is $1,396 a month. Compared with all of Champaign County, typical household income is 86% higher, the typical home value is 41% higher, and the share of households that own their home is 25 points higher.

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  • Typical home value

    $299,100

    41% above the county

    14% above Illinois

    • Mahomet
    • Champaign
    • Illinois

  • Typical rent

    $1,396a month

    33% above the county

    10% above Illinois

    • Mahomet
    • Champaign
    • Illinois

  • Typical household income

    $118,586a year

    86% above the county

    42% above Illinois

    • Mahomet
    • Champaign
    • Illinois

  • Households that own their home

    79%

    25 points above the county

    12 points above Illinois

    • Mahomet
    • Champaign
    • Illinois

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$352,066
3.8% more than 12 months ago

From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).

Mahomet is in Champaign County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Champaign County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Mahomet apart

What this place has that others do not, from public data, most unusual first.

  1. The typical household income in Mahomet is $118,586, 86% more than in Champaign County as a whole ($63,683).

  2. Nearby, in Rantoul, the typical home value is $118,200: 60% less than in Mahomet ($299,100).

  3. 79% of households in Mahomet own their home, against 54% in Champaign County.

  4. The typical home in Mahomet is worth $299,100, 41% more than in Champaign County as a whole ($211,500).

  5. Nearby, in Rantoul, the typical rent is $890: 36% less than in Mahomet ($1,396).

  6. The typical rent in Mahomet is $1,396 a month, 33% more than in Champaign County as a whole ($1,051).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Mahomet

What homes there are in Mahomet, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Mahomet, 8 in 10 homes are single-family detached houses; in Champaign County, 5.

Year built

Homes in Mahomet are newer: the typical year built is 2001; in Champaign County, 1981.

There is more room for a big family here: 79% of homes have 3 bedrooms or more, against 57% in Champaign County.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$2,158 a month

Champaign County: $1,647 a month

Without a mortgage

$923 a month

Champaign County: $737 a month

Owners with a mortgage

78%

Champaign County: 60%

Owning costs more in Mahomet: with a mortgage, the typical cost is $2,158 a month; in Champaign County, $1,647. Without one, $923.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Mahomet rose 25% since 2015–2019, less than in Champaign County (31%).

Rents in Mahomet rose faster than in Champaign County: 49% since 2015–2019, against 19%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureMahometChampaign CountyIllinoisUnited States
Rental vacancy Unreliable estimate9.0%5.0%5.5%
Homeowner vacancy Unreliable estimate1.4%1.0%0.9%
More than one person per room Unreliable estimate1.0%2.5%3.4%
People per household 2.892.272.462.53
Drive alone 76%64%66%69%
Carpool 8%8%8%9%
Public transit Unreliable estimate3%6%3%
Walk or bike Unreliable estimate8%3%3%
Work from home 17%16%16%15%
Other means Unreliable estimate1%1%2%
Typical commute Unreliable estimate10 to 19 minutes20 to 29 minutes20 to 29 minutes

Households in Mahomet are bigger: 2.89 people on average; in Champaign County, 2.27.

To get to work, 76% of workers in Mahomet drive alone; in Champaign County, 64%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Mahomet?

A typical home is tight for the typical income

We start with a typical home in Mahomet, worth $299,100, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 28% of the typical household income in Mahomet, which is $118,586 a year. For that payment to be 28% of income, a household would need to earn about $119,669 a year.

The calculator's FHA and conventional loan limits are those of all of Champaign County.

Your numbers

Local data
$

Starts at the typical home value in Mahomet. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $10,469 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$2,792

at 7.18% · 30 years

Loan amount
$293,682
Total interest
$422,540
Paid off in
November 2056

Includes $5,051 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,767 a month

  • Tight

    $2,767 to $3,558 a month

    Your payment · 28%

  • Hard

    more than $3,558 a month

Compared with the typical household income in Mahomet ($118,586 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,792
Principal & interest$1,990
Property tax$546
Home insurance$125
FHA mortgage insurance (MIP)$132

You need at least $10,469 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Mahomet and Champaign County

Mahomet is in Champaign County, Illinois. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Mahomet's own numbers

Typical home value
$299,100
Typical monthly rent
$1,396
Typical yearly household income
$118,586
Households that own their home
79%
Effective property tax rate
2.19%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Champaign County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,173
Price change over 5 years (FHFA)
+52%
Homes in a high flood-risk zone
0.8%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Champaign County.

Everything about Champaign County

Buying

Buying a home in Mahomet

A typical home in Mahomet is worth $299,100: 41% above the county and 14% above Illinois. With the typical household income in Mahomet ($118,586 a year), a typical home costs 2.5 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Mahomet 2.5 years
  • Champaign 3.3 years
  • Illinois 3.2 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Champaign County

According to FHFA’s house price index, home prices in Champaign County rose 64% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Champaign County.

Period County Illinois U.S.
Last year (2025) +7.2% +5.7% +2.9%
5 years (2020–2025) +52% +47% +47%
10 years (2015–2025) +64% +65% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Mahomet next to Champaign County, Illinois and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Mahomet $299,100
  • Champaign $211,500
  • Illinois $263,300
  • United States $332,700
Typical monthly rent
  • Mahomet $1,396
  • Champaign $1,051
  • Illinois $1,274
  • United States $1,413
Typical yearly household income
  • Mahomet $118,586
  • Champaign $63,683
  • Illinois $83,390
  • United States $80,734
See the full table
Mahomet next to Champaign County and Illinois
Measure Mahomet Champaign County Illinois U.S.
Typical home value $299,100 $211,500 $263,300 $332,700
Typical monthly rent $1,396 $1,051 $1,274 $1,413
Typical yearly household income $118,586 $63,683 $83,390 $80,734
Households that own their home 79% 54% 67% 65%
Typical yearly property tax $6,537 $4,353 $5,298 $3,119
Effective property tax rate 2.19% 2.06% 2.01% 0.94%
Renters with high rent for their income 45% 54% 48% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Champaign County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Mahomet

For a typical $299,100 home in Mahomet, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Mahomet's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $2,792a month

    Least cash to close
    Down payment
    $10,469
    Cash to close
    $19,442
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $132

  • Conventional, 5% down $2,737a month

    Down payment
    $14,955
    Cash to close
    $23,928
    Rate
    7.18%
    Mortgage insurance
    PMI · $142

  • Conventional, 20% down, no PMI $2,291a month

    Down payment
    $59,820
    Cash to close
    $68,793
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,568a month

    Down payment
    $44,865
    Cash to close
    $53,838
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Mahomet and for Champaign County.

Property tax

Effective rate in Mahomet

2.19%of the home’s value each year

$6,537 a year for the typical owner in Mahomet.

  • Mahomet 2.19%
  • Champaign 2.06%
  • Illinois 2.01%

What Illinois publishes General Homestead Exemption (Illinois Department of Revenue)

Exemptions and deadlines in Illinois

Flood risk in Champaign County

FEMA does not publish these numbers by city: they are for all of Champaign County.

Homes in the high-risk zone
0.8%
462
Of those, with NFIP insurance
17%
County Illinois U.S.
Homes in the high-risk zone 0.8% 1.5% 3.5%
Of those, with NFIP insurance 17% 25% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Mahomet

Typical rent in Mahomet is $1,396 a month: 33% above the county. In Mahomet, 45% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Champaign County, by unit size. To pay the 2-bedroom one ($1,173 a month) without spending more than 30% of your income, you would need to earn $22.56 an hour working full time.

HUD fair market rent for all of Champaign County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $983 $18.90 $39,320
1 bedroom $996 $19.15 $39,840
2 bedrooms $1,173 $22.56 $46,920
3 bedrooms $1,474 $28.35 $58,960
4 bedrooms $1,542 $29.65 $61,680

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Mahomet

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Mahomet has 2 ZIP codes with their own.

For 2 bedrooms it is $1,480 in all of them.

2 of the 2 are above the fair market rent for Champaign County ($1,173).

  • 61822 $1,480$1,860
  • 61853 $1,480$1,860

2 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Mahomet when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Mahomet

HUD lists one building with rents for lower incomes in Mahomet.

  • Meadowview Apts 2004 Middletown Dr, Mahomet 61853 40 low-income homes · 1 bd: 2 · 2 bd: 25 · 3 bd: 13 · In service since 2003 · For families

See all 24 buildings in Champaign County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Mahomet

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There is 1 HUD-approved agency with an office in Champaign County; none says it serves in Spanish.

A man leans over the armchair to help a teenage girl with her book.

HUD counseling is free or low-cost

Assistance programs in Mahomet

No down payment, repair or rent-help program on our list is for Mahomet or Champaign County. The ones below are statewide in Illinois: they work in Mahomet the same as in the rest of the state.

Which programs do I qualify for? All programs in Illinois

  • IHDAccess Home

    Statewide in Illinois

    Limited funds remain, per the source

    IHDA second loan with deferred payments for first-time buyers in Illinois. Offered by Illinois Housing Development Authority (IHDA).

    Deferred

    See the program Official page

  • IHDAccess Forgivable

    Statewide in Illinois

    Limited funds remain, per the source

    IHDA second loan forgiven little by little over ten years, for the down payment in Illinois. Offered by Illinois Housing Development Authority (IHDA).

    Forgivable

    See the program Official page

  • IHDAccess Deferred

    Statewide in Illinois

    Limited funds remain, per the source

    IHDA second loan with no payments until you sell or refinance, for the down payment in Illinois. Offered by Illinois Housing Development Authority (IHDA).

    Deferred

    See the program Official page

Housing counselors near Mahomet

The HUD-approved agencies closest to the center of Mahomet, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Habitat for Humanity of Champaign County

    1914 Glenn Park Dr, Champaign · 8 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 6 more
    (217) 819-5113

  • Erba Douglas County Outreach Office

    107 W South Central, Tuscola · 28 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 6 more
    217-331-7031-229

  • Community Investment Corporation of Decatur, Inc

    120 N Franklin St Ste C, Decatur · 38 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 3 more
    (217) 423-0352

Every agency in Champaign County All counseling agencies in Illinois

Help in Spanish near Mahomet

None of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Mahomet

HUD’s record names them for Mahomet or Champaign County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Housing Authority of Champaign County Public housing and Section 8 vouchers (217) 378-7100

All housing agencies in Illinois Source: HUD

Cities

Other cities in Champaign County

These cities are also in Champaign County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Champaign County Housing in Illinois

Nearby cities

The cities closest to Mahomet, with the typical home value.

Neighboring counties

If Champaign County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Mahomet.

All guides
A mother smiles as she carries her young daughter on her shoulders (black and white).

Questions

Housing questions about Mahomet

Short answers with the numbers for Mahomet and all of Champaign County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Mahomet?

The typical home value in Mahomet is $299,100, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Champaign County it is $211,500.

How much does it cost to rent in Mahomet?

Typical rent in Mahomet is $1,396 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Champaign County is $1,173.

What is the FHA loan limit in Mahomet?

Mahomet uses the FHA limit for all of Champaign County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Mahomet?

The typical homeowner in Mahomet pays $6,537 a year, according to the U.S. Census Bureau. That is 2.19% of the home’s value; in Champaign County, the rate is 2.06%.

Where can I find free help to buy or rent in Mahomet?

There is 1 HUD-approved counseling agency with an office in Champaign County. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).