Total monthly cost of ownership
Cost to Own a Home in Des Plaines, Illinois
A $318,000 home here costs
$2,873per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $123,000 a year.
A standard mortgage calculator would have told you $1,761. The real number is $1,111 higher every month, 63% more than the payment most buyers budget for.
Compare Cook 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.
Des Plaines against Cook County and Illinois
| Measure | Des Plaines | Cook County |
|---|---|---|
| Median home value | $318,200 | $305,200 |
| Median property tax | $6,254 | $6,053 |
| Effective tax rate | 1.965% | 1.983% |
| Median gross rent | $1,435 | $1,381 |
| Population | 59,408 | 5,185,812 |
The weather behind that power bill
Des Plaines sits in Cook County, which averages a high of 84.0°F in its hottest month and a low of 16.1°F in its coldest, with 33.23" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 822 cooling and 6,364 heating degree days, which is what sets the $133 electricity line above.
See the full climate breakdown for Cook County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Cook County
Talk to someone who works this market
These are Des Plaines 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 Des Plaines every week. Free, no obligation, and we never sell your details to a list.
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Common questions
How much does it cost to own a home in Des Plaines?
A $318,000 home in Des Plaines, Illinois costs approximately $2,873 per month with 20% down at 7.4%. That is $1,761 principal and interest, $521 property tax, $125 homeowners insurance, $201 utilities and $265 set aside for maintenance.
What is the property tax rate in Des Plaines?
Des Plaines has an effective property tax rate of 1.965%, based on a median home value of $318,200 and median real estate taxes of $6,254. That is lower than the Cook County average of 1.983%.
What is the average home price in Des Plaines?
The median owner-occupied home value in Des Plaines, Illinois is $318,200, against $305,200 across Cook County.
Is it cheaper to rent or buy in Des Plaines?
Median gross rent in Des Plaines is $1,435 a month, against $2,873 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 Des Plaines?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Des Plaines, Illinois at today's rate takes a household income of roughly $123,000 a year. That covers the full $2,873 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Des Plaines, 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.