Compare McHenry, IL mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in McHenry.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in McHenry. Plus, shopping lenders is free and there is no obligation.
August 17, 2025
Below we provide helpful information on the real estate market, home prices and housing affordability in McHenry. Understand how much you need to earn to afford a home in McHenry, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in McHenry fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in McHenry is right for you.
The median home value for McHenry, IL is $284,759
Based on current mortgage rates and a 10% down payment, you need to make $59,405 per year to buy the median priced home in McHenry
With this income, you could qualify for a $256,283 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in McHenry is $1,376
The median household income for McHenry, IL is $93,229
Based on this income, you can afford a home valued at approximately $446,890
The home price you can afford to buy based on household income in McHenry is 157% of the median home value which means housing prices are average. McHenry ranks 94 out of 102 counties in Illinois and 1,696 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in McHenry, IL is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for McHenry below.
Conforming loan limits for McHenry, IL
FHA loan limits for McHenry, IL