Total monthly cost of ownership
Cost to Own a Home in Central City, Illinois
A $44,000 home here costs
$607per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $226. The real number is $380 higher every month — 168% 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.
Central City against Marion County and Illinois
| Measure | Central City | Marion County |
|---|---|---|
| Median home value | $43,900 | $100,100 |
| Median property tax | $527 | $1,709 |
| Effective tax rate | 1.200% | 1.707% |
| Median gross rent | $888 | $771 |
| Population | 1,123 | 37,294 |
The weather behind that power bill
Central City sits in Marion County, which averages a high of 87.8°F in its hottest month and a low of 20.8°F in its coldest, with 45.89" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 1,328 cooling and 4,986 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Marion County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Marion County
Full Marion County cost breakdown · Every county in Illinois
Common questions
How much does it cost to own a home in Central City?
A $44,000 home in Central City, Illinois costs approximately $607 per month with 20% down at 6.66%. That is $226 principal and interest, $44 property tax, $17 homeowners insurance, $282 utilities and $37 set aside for maintenance.
What is the property tax rate in Central City?
Central City has an effective property tax rate of 1.200%, based on a median home value of $43,900 and median real estate taxes of $527. That is lower than the Marion County average of 1.707%.
What is the average home price in Central City?
The median owner-occupied home value in Central City, Illinois is $43,900, against $100,100 across Marion County.
Is it cheaper to rent or buy in Central City?
Median gross rent in Central City is $888 a month, against $607 to own the median home all in. Owning costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Central City — 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.