Total monthly cost of ownership
Cost to Own a Home in Belvidere, Illinois
A $153,000 home here costs
$1,538per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $787. The real number is $751 higher every month — 95% 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.
Belvidere against Boone County and Illinois
| Measure | Belvidere | Boone County |
|---|---|---|
| Median home value | $153,100 | $198,600 |
| Median property tax | $3,376 | $4,507 |
| Effective tax rate | 2.205% | 2.269% |
| Median gross rent | $943 | $1,011 |
| Population | 24,510 | 53,316 |
The weather behind that power bill
Belvidere sits in Boone County, which averages a high of 83.9°F in its hottest month and a low of 14.5°F in its coldest, with 37.24" of precipitation a year and 36% of it in a single three-month stretch. That climate drives 839 cooling and 6,497 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Boone County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Boone County
Common questions
How much does it cost to own a home in Belvidere?
A $153,000 home in Belvidere, Illinois costs approximately $1,538 per month with 20% down at 6.66%. That is $787 principal and interest, $281 property tax, $60 homeowners insurance, $282 utilities and $128 set aside for maintenance.
What is the property tax rate in Belvidere?
Belvidere has an effective property tax rate of 2.205%, based on a median home value of $153,100 and median real estate taxes of $3,376. That is lower than the Boone County average of 2.269%.
What is the average home price in Belvidere?
The median owner-occupied home value in Belvidere, Illinois is $153,100, against $198,600 across Boone County.
Is it cheaper to rent or buy in Belvidere?
Median gross rent in Belvidere is $943 a month, against $1,538 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 Belvidere — 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.