Total monthly cost of ownership
Cost to Own a Home in Coal Valley, Illinois
A $209,000 home here costs
$2,021per 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 $86,500 a year.
A standard mortgage calculator would have told you $1,139. The real number is $882 higher every month, 77% more than the payment most buyers budget for.
Compare Rock Island County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Coal Valley from a five-year rolling sample, and with about 4,142 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Rock Island County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Coal Valley against Rock Island County and Illinois
| Measure | Coal Valley | Rock Island County |
|---|---|---|
| Median home value | $208,700 | $144,700 |
| Median property tax | $5,079 | $3,372 |
| Effective tax rate | 2.434% | 2.330% |
| Median gross rent | — | $863 |
| Population | 4,142 | 142,995 |
Coal Valley extends across 2 counties. Figures here use Rock Island County, where most of its housing sits.
The weather behind that power bill
Coal Valley sits in Rock Island County, which averages a high of 86.1°F in its hottest month and a low of 14.8°F in its coldest, with 38.27" of precipitation a year and 36% of it in a single three-month stretch. That climate drives 1,041 cooling and 6,024 heating degree days, which is what sets the $134 electricity line above.
See the full climate breakdown for Rock Island County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Rock Island County
Full Rock Island County cost breakdown · Every county in Illinois
Talk to someone who works this market
These are Coal Valley 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 Coal Valley every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Coal Valley I already own here and may sell
Common questions
How much does it cost to own a home in Coal Valley?
A $209,000 home in Coal Valley, Illinois costs approximately $2,021 per month with 20% down at 7.24%. That is $1,139 principal and interest, $424 property tax, $82 homeowners insurance, $202 utilities and $174 set aside for maintenance.
What is the property tax rate in Coal Valley?
Coal Valley has an effective property tax rate of 2.434%, based on a median home value of $208,700 and median real estate taxes of $5,079. That is higher than the Rock Island County average of 2.330%.
What is the average home price in Coal Valley?
The median owner-occupied home value in Coal Valley, Illinois is $208,700, against $144,700 across Rock Island County.
Is it cheaper to rent or buy in Coal Valley?
Rent data is not published for Coal Valley at this level of detail.
What salary do you need to buy a home in Coal Valley?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Coal Valley, Illinois at today's rate takes a household income of roughly $86,500 a year. That covers the full $2,021 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Coal Valley, 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.