Compare Rockford, 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 Rockford.
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August 28, 2025
Below we provide helpful information on the real estate market, home prices and housing affordability in Rockford. Understand how much you need to earn to afford a home in Rockford, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Rockford 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 Rockford is right for you.
The median home value for Rockford, IL (Winnebago County) is $156,652
Based on current mortgage rates and a 10% down payment, you need to make $32,680 per year to buy the median priced home in Rockford
With this income, you could qualify for a $140,986 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 Rockford is $757
The median household income for Rockford, IL (Winnebago County) is $56,952
Based on this income, you can afford a home valued at approximately $272,997
The home price you can afford to buy based on household income in Rockford is 174% of the median home value which means housing prices are average. Rockford (Winnebago County) ranks 88 out of 102 counties in Illinois and 1,297 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Rockford, IL is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Rockford (Winnebago County) below.
Conforming loan limits for Rockford, IL
FHA loan limits for Rockford, IL