Total monthly cost of ownership
Cost to Own a Home in Chester, Illinois
A $108,000 home here costs
$1,056per 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 $45,500 a year.
A standard mortgage calculator would have told you $589. The real number is $467 higher every month, 79% more than the payment most buyers budget for.
Compare Randolph 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.
Chester against Randolph County and Illinois
| Measure | Chester | Randolph County |
|---|---|---|
| Median home value | $107,800 | $134,100 |
| Median property tax | $1,596 | $1,877 |
| Effective tax rate | 1.481% | 1.400% |
| Median gross rent | $642 | $760 |
| Population | 6,830 | 30,142 |
The weather behind that power bill
Chester sits in Randolph County, which averages a high of 87.7°F in its hottest month and a low of 21.6°F in its coldest, with 45.64" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 1,244 cooling and 4,833 heating degree days, which is what sets the $134 electricity line above.
See the full climate breakdown for Randolph County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Randolph County
Full Randolph County cost breakdown · Every county in Illinois
Talk to someone who works this market
These are Chester 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 Chester every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Chester I already own here and may sell
Common questions
How much does it cost to own a home in Chester?
A $108,000 home in Chester, Illinois costs approximately $1,056 per month with 20% down at 7.24%. That is $589 principal and interest, $133 property tax, $42 homeowners insurance, $202 utilities and $90 set aside for maintenance.
What is the property tax rate in Chester?
Chester has an effective property tax rate of 1.481%, based on a median home value of $107,800 and median real estate taxes of $1,596. That is higher than the Randolph County average of 1.400%.
What is the average home price in Chester?
The median owner-occupied home value in Chester, Illinois is $107,800, against $134,100 across Randolph County.
Is it cheaper to rent or buy in Chester?
Median gross rent in Chester is $642 a month, against $1,056 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 Chester?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Chester, Illinois at today's rate takes a household income of roughly $45,500 a year. That covers the full $1,056 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Chester, 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.