Total monthly cost of ownership
Cost to Own a Home in Crystal Lake, Illinois
A $287,000 home here costs
$2,729per 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 $117,000 a year.
A standard mortgage calculator would have told you $1,565. The real number is $1,165 higher every month, 74% more than the payment most buyers budget for.
Compare McHenry 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.
Crystal Lake against McHenry County and Illinois
| Measure | Crystal Lake | McHenry County |
|---|---|---|
| Median home value | $287,400 | $286,900 |
| Median property tax | $7,347 | $7,153 |
| Effective tax rate | 2.556% | 2.493% |
| Median gross rent | $1,431 | $1,358 |
| Population | 40,436 | 311,366 |
The weather behind that power bill
Crystal Lake sits in McHenry County, which averages a high of 84.0°F in its hottest month and a low of 14.2°F in its coldest, with 39.35" of precipitation a year and 36% of it in a single three-month stretch. That climate drives 771 cooling and 6,520 heating degree days, which is what sets the $134 electricity line above.
See the full climate breakdown for McHenry County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in McHenry County
Full McHenry County cost breakdown · Every county in Illinois
Talk to someone who works this market
These are Crystal Lake 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 Crystal Lake every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Crystal Lake I already own here and may sell
Common questions
How much does it cost to own a home in Crystal Lake?
A $287,000 home in Crystal Lake, Illinois costs approximately $2,729 per month with 20% down at 7.24%. That is $1,565 principal and interest, $611 property tax, $112 homeowners insurance, $202 utilities and $239 set aside for maintenance.
What is the property tax rate in Crystal Lake?
Crystal Lake has an effective property tax rate of 2.556%, based on a median home value of $287,400 and median real estate taxes of $7,347. That is higher than the McHenry County average of 2.493%.
What is the average home price in Crystal Lake?
The median owner-occupied home value in Crystal Lake, Illinois is $287,400, against $286,900 across McHenry County.
Is it cheaper to rent or buy in Crystal Lake?
Median gross rent in Crystal Lake is $1,431 a month, against $2,729 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 Crystal Lake?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Crystal Lake, Illinois at today's rate takes a household income of roughly $117,000 a year. That covers the full $2,729 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Crystal Lake, 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.