Total monthly cost of ownership
Cost to Own a Home in Freeport, Illinois
A $86,000 home here costs
$1,015per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $442. The real number is $573 higher every month — 130% 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.
Freeport against Stephenson County and Illinois
| Measure | Freeport | Stephenson County |
|---|---|---|
| Median home value | $86,100 | $127,500 |
| Median property tax | $2,226 | $3,140 |
| Effective tax rate | 2.585% | 2.463% |
| Median gross rent | $760 | $764 |
| Population | 23,636 | 44,042 |
The weather behind that power bill
Freeport sits in Stephenson County, which averages a high of 82.4°F in its hottest month and a low of 11.3°F in its coldest, with 38.36" of precipitation a year and 36% of it in a single three-month stretch. That climate drives 690 cooling and 6,956 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Stephenson County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Stephenson County
Full Stephenson County cost breakdown · Every county in Illinois
Common questions
How much does it cost to own a home in Freeport?
A $86,000 home in Freeport, Illinois costs approximately $1,015 per month with 20% down at 6.66%. That is $442 principal and interest, $185 property tax, $34 homeowners insurance, $282 utilities and $72 set aside for maintenance.
What is the property tax rate in Freeport?
Freeport has an effective property tax rate of 2.585%, based on a median home value of $86,100 and median real estate taxes of $2,226. That is higher than the Stephenson County average of 2.463%.
What is the average home price in Freeport?
The median owner-occupied home value in Freeport, Illinois is $86,100, against $127,500 across Stephenson County.
Is it cheaper to rent or buy in Freeport?
Median gross rent in Freeport is $760 a month, against $1,015 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 Freeport — 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.