Total monthly cost of ownership
Cost to Own a Home in Highland, Illinois
A $186,000 home here costs
$1,792per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $956. The real number is $836 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.
Highland against Madison County and Illinois
| Measure | Highland | Madison County |
|---|---|---|
| Median home value | $185,800 | $167,900 |
| Median property tax | $3,900 | $3,232 |
| Effective tax rate | 2.099% | 1.925% |
| Median gross rent | $776 | $969 |
| Population | 10,268 | 264,631 |
The weather behind that power bill
Highland 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 Highland?
A $186,000 home in Highland, Illinois costs approximately $1,792 per month with 20% down at 6.66%. That is $956 principal and interest, $325 property tax, $73 homeowners insurance, $282 utilities and $155 set aside for maintenance.
What is the property tax rate in Highland?
Highland has an effective property tax rate of 2.099%, based on a median home value of $185,800 and median real estate taxes of $3,900. That is higher than the Madison County average of 1.925%.
What is the average home price in Highland?
The median owner-occupied home value in Highland, Illinois is $185,800, against $167,900 across Madison County.
Is it cheaper to rent or buy in Highland?
Median gross rent in Highland is $776 a month, against $1,792 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 Highland — 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.