Total monthly cost of ownership
Cost to Own a Home in Chatham, Illinois
A $232,000 home here costs
$2,162per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,193. The real number is $970 higher every month — 81% 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.
Chatham against Sangamon County and Illinois
| Measure | Chatham | Sangamon County |
|---|---|---|
| Median home value | $231,900 | $170,300 |
| Median property tax | $4,835 | $3,369 |
| Effective tax rate | 2.085% | 1.978% |
| Median gross rent | $1,157 | $954 |
| Population | 14,740 | 195,217 |
The weather behind that power bill
Chatham sits in Sangamon County, which averages a high of 85.5°F in its hottest month and a low of 18.6°F in its coldest, with 40.45" of precipitation a year and 36% of it in a single three-month stretch. That climate drives 1,094 cooling and 5,455 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Sangamon County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Sangamon County
Full Sangamon County cost breakdown · Every county in Illinois
Common questions
How much does it cost to own a home in Chatham?
A $232,000 home in Chatham, Illinois costs approximately $2,162 per month with 20% down at 6.66%. That is $1,193 principal and interest, $403 property tax, $91 homeowners insurance, $282 utilities and $193 set aside for maintenance.
What is the property tax rate in Chatham?
Chatham has an effective property tax rate of 2.085%, based on a median home value of $231,900 and median real estate taxes of $4,835. That is higher than the Sangamon County average of 1.978%.
What is the average home price in Chatham?
The median owner-occupied home value in Chatham, Illinois is $231,900, against $170,300 across Sangamon County.
Is it cheaper to rent or buy in Chatham?
Median gross rent in Chatham is $1,157 a month, against $2,162 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 Chatham — 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.