Total monthly cost of ownership
Cost to Own a Home in Fairbury, Illinois
A $156,000 home here costs
$1,539per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $802. The real number is $737 higher every month — 92% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Fairbury against Livingston County and Illinois
| Measure | Fairbury | Livingston County |
|---|---|---|
| Median home value | $155,900 | $131,500 |
| Median property tax | $3,158 | $2,867 |
| Effective tax rate | 2.026% | 2.180% |
| Median gross rent | $750 | $855 |
| Population | 3,683 | 35,659 |
The weather behind that power bill
Fairbury sits in Livingston County, which averages a high of 84.3°F in its hottest month and a low of 17.2°F in its coldest, with 36.95" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 1,052 cooling and 5,840 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Livingston County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Livingston County
Full Livingston County cost breakdown · Every county in Illinois
Common questions
How much does it cost to own a home in Fairbury?
A $156,000 home in Fairbury, Illinois costs approximately $1,539 per month with 20% down at 6.66%. That is $802 principal and interest, $263 property tax, $61 homeowners insurance, $282 utilities and $130 set aside for maintenance.
What is the property tax rate in Fairbury?
Fairbury has an effective property tax rate of 2.026%, based on a median home value of $155,900 and median real estate taxes of $3,158. That is lower than the Livingston County average of 2.180%.
What is the average home price in Fairbury?
The median owner-occupied home value in Fairbury, Illinois is $155,900, against $131,500 across Livingston County.
Is it cheaper to rent or buy in Fairbury?
Median gross rent in Fairbury is $750 a month, against $1,539 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Fairbury — 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.