Total monthly cost of ownership
Cost to Own a Home in Dixon, Illinois
A $113,000 home here costs
$1,163per 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 $50,000 a year.
A standard mortgage calculator would have told you $616. The real number is $547 higher every month, 89% more than the payment most buyers budget for.
Compare Lee 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.
Dixon against Lee County and Illinois
| Measure | Dixon | Lee County |
|---|---|---|
| Median home value | $113,300 | $155,100 |
| Median property tax | $2,487 | $2,980 |
| Effective tax rate | 2.195% | 1.921% |
| Median gross rent | $865 | $853 |
| Population | 15,166 | 34,058 |
The weather behind that power bill
Dixon sits in Lee County, which averages a high of 83.9°F in its hottest month and a low of 14.5°F in its coldest, with 37.24" of precipitation a year and 36% of it in a single three-month stretch. That climate drives 839 cooling and 6,497 heating degree days, which is what sets the $134 electricity line above.
See the full climate breakdown for Lee County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lee County
Talk to someone who works this market
These are Dixon 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 Dixon every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Dixon?
A $113,000 home in Dixon, Illinois costs approximately $1,163 per month with 20% down at 7.24%. That is $616 principal and interest, $207 property tax, $44 homeowners insurance, $202 utilities and $94 set aside for maintenance.
What is the property tax rate in Dixon?
Dixon has an effective property tax rate of 2.195%, based on a median home value of $113,300 and median real estate taxes of $2,487. That is higher than the Lee County average of 1.921%.
What is the average home price in Dixon?
The median owner-occupied home value in Dixon, Illinois is $113,300, against $155,100 across Lee County.
Is it cheaper to rent or buy in Dixon?
Median gross rent in Dixon is $865 a month, against $1,163 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 Dixon?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Dixon, Illinois at today's rate takes a household income of roughly $50,000 a year. That covers the full $1,163 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Dixon, 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.