Total monthly cost of ownership
Cost to Own a Home in Arcola, Illinois
A $123,000 home here costs
$1,258per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $632. The real number is $625 higher every month — 99% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Arcola against Douglas County and Illinois
| Measure | Arcola | Douglas County |
|---|---|---|
| Median home value | $122,800 | $142,600 |
| Median property tax | $2,303 | $2,586 |
| Effective tax rate | 1.875% | 1.813% |
| Median gross rent | $819 | $818 |
| Population | 2,867 | 19,686 |
The weather behind that power bill
Arcola sits in Douglas County, which averages a high of 84.9°F in its hottest month and a low of 18.0°F in its coldest, with 40.55" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 1,076 cooling and 5,635 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Douglas County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Douglas County
Full Douglas County cost breakdown · Every county in Illinois
Common questions
How much does it cost to own a home in Arcola?
A $123,000 home in Arcola, Illinois costs approximately $1,258 per month with 20% down at 6.66%. That is $632 principal and interest, $192 property tax, $48 homeowners insurance, $282 utilities and $103 set aside for maintenance.
What is the property tax rate in Arcola?
Arcola has an effective property tax rate of 1.875%, based on a median home value of $122,800 and median real estate taxes of $2,303. That is higher than the Douglas County average of 1.813%.
What is the average home price in Arcola?
The median owner-occupied home value in Arcola, Illinois is $122,800, against $142,600 across Douglas County.
Is it cheaper to rent or buy in Arcola?
Median gross rent in Arcola is $819 a month, against $1,258 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Arcola — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Illinois.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.