Total monthly cost of ownership
Cost to Own a Home in Knoxville, Illinois
A $140,000 home here costs
$1,385per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $720. The real number is $665 higher every month — 92% 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.
Knoxville against Knox County and Illinois
| Measure | Knoxville | Knox County |
|---|---|---|
| Median home value | $139,900 | $104,900 |
| Median property tax | $2,531 | $2,044 |
| Effective tax rate | 1.809% | 1.949% |
| Median gross rent | $675 | $725 |
| Population | 3,137 | 49,294 |
The weather behind that power bill
Knoxville sits in Knox County, which averages a high of 83.6°F in its hottest month and a low of 14.3°F in its coldest, with 40.5" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 899 cooling and 6,191 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Knox County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Knox County
Common questions
How much does it cost to own a home in Knoxville?
A $140,000 home in Knoxville, Illinois costs approximately $1,385 per month with 20% down at 6.66%. That is $720 principal and interest, $211 property tax, $55 homeowners insurance, $282 utilities and $117 set aside for maintenance.
What is the property tax rate in Knoxville?
Knoxville has an effective property tax rate of 1.809%, based on a median home value of $139,900 and median real estate taxes of $2,531. That is lower than the Knox County average of 1.949%.
What is the average home price in Knoxville?
The median owner-occupied home value in Knoxville, Illinois is $139,900, against $104,900 across Knox County.
Is it cheaper to rent or buy in Knoxville?
Median gross rent in Knoxville is $675 a month, against $1,385 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 Knoxville — 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.