Total monthly cost of ownership
Cost to Own a Home in Jacksonville, Illinois
A $128,000 home here costs
$1,276per 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 $54,500 a year.
A standard mortgage calculator would have told you $698. The real number is $578 higher every month, 83% more than the payment most buyers budget for.
Compare Morgan County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Jacksonville against Morgan County and Illinois
| Measure | Jacksonville | Morgan County |
|---|---|---|
| Median home value | $128,300 | $128,700 |
| Median property tax | $2,638 | $2,420 |
| Effective tax rate | 2.056% | 1.880% |
| Median gross rent | $703 | $710 |
| Population | 17,490 | 32,621 |
The weather behind that power bill
Jacksonville sits in Morgan County, which averages a high of 86.5°F in its hottest month and a low of 18.1°F in its coldest, with 39.25" of precipitation a year and 36% of it in a single three-month stretch. That climate drives 1,067 cooling and 5,510 heating degree days, which is what sets the $134 electricity line above.
See the full climate breakdown for Morgan County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Morgan County
Full Morgan County cost breakdown · Every county in Illinois
Talk to someone who works this market
These are Jacksonville 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 Jacksonville every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Jacksonville I already own here and may sell
Common questions
How much does it cost to own a home in Jacksonville?
A $128,000 home in Jacksonville, Illinois costs approximately $1,276 per month with 20% down at 7.24%. That is $698 principal and interest, $219 property tax, $50 homeowners insurance, $202 utilities and $107 set aside for maintenance.
What is the property tax rate in Jacksonville?
Jacksonville has an effective property tax rate of 2.056%, based on a median home value of $128,300 and median real estate taxes of $2,638. That is higher than the Morgan County average of 1.880%.
What is the average home price in Jacksonville?
The median owner-occupied home value in Jacksonville, Illinois is $128,300, against $128,700 across Morgan County.
Is it cheaper to rent or buy in Jacksonville?
Median gross rent in Jacksonville is $703 a month, against $1,276 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 Jacksonville?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Jacksonville, Illinois at today's rate takes a household income of roughly $54,500 a year. That covers the full $1,276 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Jacksonville, 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.