Total monthly cost of ownership
Cost to Own a Home in Godfrey, Illinois
A $181,000 home here costs
$1,738per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $931. The real number is $807 higher every month — 87% 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.
Godfrey against Madison County and Illinois
| Measure | Godfrey | Madison County |
|---|---|---|
| Median home value | $181,400 | $167,900 |
| Median property tax | $3,645 | $3,232 |
| Effective tax rate | 2.009% | 1.925% |
| Median gross rent | $1,111 | $969 |
| Population | 17,743 | 264,631 |
The weather behind that power bill
Godfrey sits in Madison County, which averages a high of 90.2°F in its hottest month and a low of 24.3°F in its coldest, with 43.36" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 1,579 cooling and 4,209 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Madison County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Madison County
Full Madison County cost breakdown · Every county in Illinois
Common questions
How much does it cost to own a home in Godfrey?
A $181,000 home in Godfrey, Illinois costs approximately $1,738 per month with 20% down at 6.66%. That is $931 principal and interest, $303 property tax, $71 homeowners insurance, $282 utilities and $151 set aside for maintenance.
What is the property tax rate in Godfrey?
Godfrey has an effective property tax rate of 2.009%, based on a median home value of $181,400 and median real estate taxes of $3,645. That is higher than the Madison County average of 1.925%.
What is the average home price in Godfrey?
The median owner-occupied home value in Godfrey, Illinois is $181,400, against $167,900 across Madison County.
Is it cheaper to rent or buy in Godfrey?
Median gross rent in Godfrey is $1,111 a month, against $1,738 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 Godfrey — 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.