Total monthly cost of ownership
Cost to Own a Home in Grayville, Illinois
A $76,000 home here costs
$804per 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 $34,500 a year.
A standard mortgage calculator would have told you $414. The real number is $389 higher every month, 94% more than the payment most buyers budget for.
Compare White County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Grayville from a five-year rolling sample, and with about 1,515 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The White County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Grayville against White County and Illinois
| Measure | Grayville | White County |
|---|---|---|
| Median home value | $76,000 | $100,100 |
| Median property tax | $1,134 | $1,388 |
| Effective tax rate | 1.492% | 1.387% |
| Median gross rent | $700 | $706 |
| Population | 1,515 | 13,708 |
Grayville extends across 2 counties. Figures here use White County, where most of its housing sits.
The weather behind that power bill
Grayville sits in White County, which averages a high of 87.6°F in its hottest month and a low of 21.2°F in its coldest, with 48.32" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,245 cooling and 4,857 heating degree days, which is what sets the $134 electricity line above.
See the full climate breakdown for White County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in White County
Talk to someone who works this market
These are Grayville 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 Grayville every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Grayville I already own here and may sell
Common questions
How much does it cost to own a home in Grayville?
A $76,000 home in Grayville, Illinois costs approximately $804 per month with 20% down at 7.24%. That is $414 principal and interest, $94 property tax, $30 homeowners insurance, $202 utilities and $63 set aside for maintenance.
What is the property tax rate in Grayville?
Grayville has an effective property tax rate of 1.492%, based on a median home value of $76,000 and median real estate taxes of $1,134. That is higher than the White County average of 1.387%.
What is the average home price in Grayville?
The median owner-occupied home value in Grayville, Illinois is $76,000, against $100,100 across White County.
Is it cheaper to rent or buy in Grayville?
Median gross rent in Grayville is $700 a month, against $804 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 Grayville?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Grayville, Illinois at today's rate takes a household income of roughly $34,500 a year. That covers the full $804 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Grayville, 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.