Total monthly cost of ownership
Cost to Own a Home in Columbia, Illinois
A $290,000 home here costs
$2,594per 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 $111,000 a year.
A standard mortgage calculator would have told you $1,581. The real number is $1,013 higher every month, 64% more than the payment most buyers budget for.
Compare St. Clair 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.
Columbia against St. Clair County and Illinois
| Measure | Columbia | St. Clair County |
|---|---|---|
| Median home value | $290,100 | $168,800 |
| Median property tax | $5,473 | $3,533 |
| Effective tax rate | 1.887% | 2.093% |
| Median gross rent | $1,089 | $1,032 |
| Population | 11,063 | 254,777 |
Columbia extends across 2 counties. Figures here use St. Clair County, where most of its housing sits.
The weather behind that power bill
Columbia sits in St. Clair County, which averages a high of 90.2°F in its hottest month and a low of 24.3°F in its coldest, with 43.36" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 1,579 cooling and 4,209 heating degree days, which is what sets the $134 electricity line above.
See the full climate breakdown for St. Clair County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in St. Clair County
Full St. Clair County cost breakdown · Every county in Illinois
Talk to someone who works this market
These are Columbia 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 Columbia every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Columbia I already own here and may sell
Common questions
How much does it cost to own a home in Columbia?
A $290,000 home in Columbia, Illinois costs approximately $2,594 per month with 20% down at 7.24%. That is $1,581 principal and interest, $456 property tax, $114 homeowners insurance, $202 utilities and $242 set aside for maintenance.
What is the property tax rate in Columbia?
Columbia has an effective property tax rate of 1.887%, based on a median home value of $290,100 and median real estate taxes of $5,473. That is lower than the St. Clair County average of 2.093%.
What is the average home price in Columbia?
The median owner-occupied home value in Columbia, Illinois is $290,100, against $168,800 across St. Clair County.
Is it cheaper to rent or buy in Columbia?
Median gross rent in Columbia is $1,089 a month, against $2,594 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 Columbia?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Columbia, Illinois at today's rate takes a household income of roughly $111,000 a year. That covers the full $2,594 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Columbia, 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.