Total monthly cost of ownership
Cost to Own a Home in Chillicothe, Illinois
A $129,000 home here costs
$1,334per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $663. The real number is $670 higher every month — 101% 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.
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 $214 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
Common questions
How much does it cost to own a home in Chillicothe?
A $129,000 home in Chillicothe, Illinois costs approximately $1,334 per month with 20% down at 6.66%. That is $663 principal and interest, $230 property tax, $51 homeowners insurance, $282 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 $1,334 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 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.