Total monthly cost of ownership
Cost to Own a Home in Canton, Illinois
A $107,000 home here costs
$1,117per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $48,000 a year.
A standard mortgage calculator would have told you $583. The real number is $534 higher every month, 92% more than the payment most buyers budget for.
Compare Fulton County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Canton against Fulton County and Illinois
| Measure | Canton | Fulton County |
|---|---|---|
| Median home value | $106,900 | $102,500 |
| Median property tax | $2,410 | $2,186 |
| Effective tax rate | 2.254% | 2.133% |
| Median gross rent | $814 | $808 |
| Population | 13,408 | 33,259 |
The weather behind that power bill
Canton sits in Fulton County, which averages a high of 88.1°F in its hottest month and a low of 16.4°F in its coldest, with 41.04" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 1,161 cooling and 5,686 heating degree days, which is what sets the $134 electricity line above.
See the full climate breakdown for Fulton County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Fulton County
Full Fulton County cost breakdown · Every county in Illinois
Talk to someone who works this market
These are Canton averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Canton every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Canton I already own here and may sell
Common questions
How much does it cost to own a home in Canton?
A $107,000 home in Canton, Illinois costs approximately $1,117 per month with 20% down at 7.24%. That is $583 principal and interest, $201 property tax, $42 homeowners insurance, $202 utilities and $89 set aside for maintenance.
What is the property tax rate in Canton?
Canton has an effective property tax rate of 2.254%, based on a median home value of $106,900 and median real estate taxes of $2,410. That is higher than the Fulton County average of 2.133%.
What is the average home price in Canton?
The median owner-occupied home value in Canton, Illinois is $106,900, against $102,500 across Fulton County.
Is it cheaper to rent or buy in Canton?
Median gross rent in Canton is $814 a month, against $1,117 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Canton?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Canton, Illinois at today's rate takes a household income of roughly $48,000 a year. That covers the full $1,117 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Canton, 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.