Total monthly cost of ownership
Cost to Own a Home in Grayville, Illinois
A $76,000 home here costs
$861per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $391. The real number is $470 higher every month — 120% 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.
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 $214 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
Common questions
How much does it cost to own a home in Grayville?
A $76,000 home in Grayville, Illinois costs approximately $861 per month with 20% down at 6.66%. That is $391 principal and interest, $94 property tax, $30 homeowners insurance, $282 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 $861 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 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.