Total monthly cost of ownership
Cost to Own a Home in Geneseo, Illinois
A $196,000 home here costs
$1,812per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,008. The real number is $804 higher every month — 80% 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.
Geneseo against Henry County and Illinois
| Measure | Geneseo | Henry County |
|---|---|---|
| Median home value | $196,400 | $145,300 |
| Median property tax | $3,390 | $2,877 |
| Effective tax rate | 1.726% | 1.980% |
| Median gross rent | $952 | $837 |
| Population | 6,577 | 48,948 |
The weather behind that power bill
Geneseo sits in Henry County, which averages a high of 85.7°F in its hottest month and a low of 14.6°F in its coldest, with 39.09" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 1,031 cooling and 6,139 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Henry County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Henry County
Common questions
How much does it cost to own a home in Geneseo?
A $196,000 home in Geneseo, Illinois costs approximately $1,812 per month with 20% down at 6.66%. That is $1,008 principal and interest, $282 property tax, $77 homeowners insurance, $282 utilities and $163 set aside for maintenance.
What is the property tax rate in Geneseo?
Geneseo has an effective property tax rate of 1.726%, based on a median home value of $196,400 and median real estate taxes of $3,390. That is lower than the Henry County average of 1.980%.
What is the average home price in Geneseo?
The median owner-occupied home value in Geneseo, Illinois is $196,400, against $145,300 across Henry County.
Is it cheaper to rent or buy in Geneseo?
Median gross rent in Geneseo is $952 a month, against $1,812 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 Geneseo — 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.