Total monthly cost of ownership
Cost to Own a Home in Bement, Illinois
A $101,000 home here costs
$1,101per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $519. The real number is $582 higher every month — 112% 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.
Bement against Piatt County and Illinois
| Measure | Bement | Piatt County |
|---|---|---|
| Median home value | $101,200 | $173,200 |
| Median property tax | $2,115 | $3,040 |
| Effective tax rate | 2.090% | 1.755% |
| Median gross rent | $772 | $950 |
| Population | 1,664 | 16,702 |
The weather behind that power bill
Bement sits in Piatt County, which averages a high of 83.6°F in its hottest month and a low of 17.4°F in its coldest, with 39.62" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 822 cooling and 5,858 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Piatt County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Piatt County
Common questions
How much does it cost to own a home in Bement?
A $101,000 home in Bement, Illinois costs approximately $1,101 per month with 20% down at 6.66%. That is $519 principal and interest, $176 property tax, $40 homeowners insurance, $282 utilities and $84 set aside for maintenance.
What is the property tax rate in Bement?
Bement has an effective property tax rate of 2.090%, based on a median home value of $101,200 and median real estate taxes of $2,115. That is higher than the Piatt County average of 1.755%.
What is the average home price in Bement?
The median owner-occupied home value in Bement, Illinois is $101,200, against $173,200 across Piatt County.
Is it cheaper to rent or buy in Bement?
Median gross rent in Bement is $772 a month, against $1,101 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 Bement — 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.