Total monthly cost of ownership
Cost to Own a Home in Chillicothe, Illinois
A $129,000 home here costs
$1,299per month, all in, with 20% down at today's 7.32% 30-year fixed rate. By the 28% rule that takes a household income of about $55,500 a year.
A standard mortgage calculator would have told you $709. The real number is $590 higher every month, 83% more than the payment most buyers budget for.
Compare Peoria 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.
Chillicothe against Peoria County and Illinois
| Measure | Chillicothe | Peoria County |
|---|---|---|
| Median home value | $128,500 | $152,600 |
| Median property tax | $2,749 | $3,416 |
| Effective tax rate | 2.139% | 2.239% |
| Median gross rent | $798 | $946 |
| Population | 6,185 | 179,831 |
The weather behind that power bill
Chillicothe sits in Peoria County, which averages a high of 86.3°F in its hottest month and a low of 17.6°F in its coldest, with 37.55" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 1,157 cooling and 5,614 heating degree days, which is what sets the $134 electricity line above.
See the full climate breakdown for Peoria County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Peoria County
Full Peoria County cost breakdown · Every county in Illinois
Talk to someone who works this market
These are Chillicothe 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 Chillicothe every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Chillicothe I already own here and may sell
Common questions
How much does it cost to own a home in Chillicothe?
A $129,000 home in Chillicothe, Illinois costs approximately $1,299 per month with 20% down at 7.32%. That is $709 principal and interest, $230 property tax, $51 homeowners insurance, $202 utilities and $108 set aside for maintenance.
What is the property tax rate in Chillicothe?
Chillicothe has an effective property tax rate of 2.139%, based on a median home value of $128,500 and median real estate taxes of $2,749. That is lower than the Peoria County average of 2.239%.
What is the average home price in Chillicothe?
The median owner-occupied home value in Chillicothe, Illinois is $128,500, against $152,600 across Peoria County.
Is it cheaper to rent or buy in Chillicothe?
Median gross rent in Chillicothe is $798 a month, against $1,299 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 Chillicothe?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Chillicothe, Illinois at today's rate takes a household income of roughly $55,500 a year. That covers the full $1,299 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Chillicothe, 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.