Total monthly cost of ownership
Cost to Own a Home in Coal City, Illinois
A $212,000 home here costs
$1,970per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,090. The real number is $880 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.
Coal City against Will County and Illinois
| Measure | Coal City | Will County |
|---|---|---|
| Median home value | $211,600 | $298,000 |
| Median property tax | $4,050 | $6,993 |
| Effective tax rate | 1.914% | 2.347% |
| Median gross rent | $1,064 | $1,413 |
| Population | 5,145 | 698,450 |
Coal City extends across 2 counties. Figures here use Will County, where most of its housing sits.
The weather behind that power bill
Coal City sits in Will County, which averages a high of 83.6°F in its hottest month and a low of 16.6°F in its coldest, with 38.03" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 872 cooling and 6,171 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Will County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Will County
Common questions
How much does it cost to own a home in Coal City?
A $212,000 home in Coal City, Illinois costs approximately $1,970 per month with 20% down at 6.66%. That is $1,090 principal and interest, $338 property tax, $83 homeowners insurance, $282 utilities and $177 set aside for maintenance.
What is the property tax rate in Coal City?
Coal City has an effective property tax rate of 1.914%, based on a median home value of $211,600 and median real estate taxes of $4,050. That is lower than the Will County average of 2.347%.
What is the average home price in Coal City?
The median owner-occupied home value in Coal City, Illinois is $211,600, against $298,000 across Will County.
Is it cheaper to rent or buy in Coal City?
Median gross rent in Coal City is $1,064 a month, against $1,970 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 Coal 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.