Total monthly cost of ownership
Cost to Own a Home in Decatur, Illinois
A $97,000 home here costs
$1,032per month, all in, with 20% down at today's 7.32% 30-year fixed rate. By the 28% rule that takes a household income of about $44,000 a year.
A standard mortgage calculator would have told you $533. The real number is $499 higher every month, 94% more than the payment most buyers budget for.
Compare Macon 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.
Decatur against Macon County and Illinois
| Measure | Decatur | Macon County |
|---|---|---|
| Median home value | $97,300 | $121,800 |
| Median property tax | $2,153 | $2,560 |
| Effective tax rate | 2.213% | 2.102% |
| Median gross rent | $796 | $797 |
| Population | 70,368 | 102,591 |
The weather behind that power bill
Decatur sits in Macon County, which averages a high of 84.7°F in its hottest month and a low of 19.7°F in its coldest, with 40.44" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 1,116 cooling and 5,444 heating degree days, which is what sets the $133 electricity line above.
See the full climate breakdown for Macon County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Macon County
Talk to someone who works this market
These are Decatur 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 Decatur every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Decatur I already own here and may sell
Common questions
How much does it cost to own a home in Decatur?
A $97,000 home in Decatur, Illinois costs approximately $1,032 per month with 20% down at 7.32%. That is $533 principal and interest, $179 property tax, $38 homeowners insurance, $201 utilities and $81 set aside for maintenance.
What is the property tax rate in Decatur?
Decatur has an effective property tax rate of 2.213%, based on a median home value of $97,300 and median real estate taxes of $2,153. That is higher than the Macon County average of 2.102%.
What is the average home price in Decatur?
The median owner-occupied home value in Decatur, Illinois is $97,300, against $121,800 across Macon County.
Is it cheaper to rent or buy in Decatur?
Median gross rent in Decatur is $796 a month, against $1,032 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 Decatur?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Decatur, Illinois at today's rate takes a household income of roughly $44,000 a year. That covers the full $1,032 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Decatur, 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.