Total monthly cost of ownership
Cost to Own a Home in Greenfield, Illinois
A $98,000 home here costs
$1,072per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $504. The real number is $568 higher every month — 113% 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.
Greenfield against Greene County and Illinois
| Measure | Greenfield | Greene County |
|---|---|---|
| Median home value | $97,600 | $94,400 |
| Median property tax | $1,975 | $1,564 |
| Effective tax rate | 2.024% | 1.657% |
| Median gross rent | $833 | $800 |
| Population | 1,137 | 11,837 |
The weather behind that power bill
Greenfield sits in Greene County, which averages a high of 85.6°F in its hottest month and a low of 18.4°F in its coldest, with 39.58" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 1,107 cooling and 5,477 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Greene County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Greene County
Full Greene County cost breakdown · Every county in Illinois
Common questions
How much does it cost to own a home in Greenfield?
A $98,000 home in Greenfield, Illinois costs approximately $1,072 per month with 20% down at 6.66%. That is $504 principal and interest, $165 property tax, $38 homeowners insurance, $282 utilities and $82 set aside for maintenance.
What is the property tax rate in Greenfield?
Greenfield has an effective property tax rate of 2.024%, based on a median home value of $97,600 and median real estate taxes of $1,975. That is higher than the Greene County average of 1.657%.
What is the average home price in Greenfield?
The median owner-occupied home value in Greenfield, Illinois is $97,600, against $94,400 across Greene County.
Is it cheaper to rent or buy in Greenfield?
Median gross rent in Greenfield is $833 a month, against $1,072 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 Greenfield — 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.