Total monthly cost of ownership
Cost to Own a Home in Lacon, Illinois
A $112,000 home here costs
$1,210per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $576. The real number is $634 higher every month — 110% 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.
Lacon against Marshall County and Illinois
| Measure | Lacon | Marshall County |
|---|---|---|
| Median home value | $111,700 | $137,800 |
| Median property tax | $2,565 | $2,743 |
| Effective tax rate | 2.296% | 1.991% |
| Median gross rent | $811 | $767 |
| Population | 1,768 | 11,715 |
The weather behind that power bill
Lacon sits in Marshall County, which averages a high of 87.0°F in its hottest month and a low of 18.0°F in its coldest, with 38.39" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 1,134 cooling and 5,603 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Marshall County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Marshall County
Full Marshall County cost breakdown · Every county in Illinois
Common questions
How much does it cost to own a home in Lacon?
A $112,000 home in Lacon, Illinois costs approximately $1,210 per month with 20% down at 6.66%. That is $576 principal and interest, $214 property tax, $44 homeowners insurance, $282 utilities and $93 set aside for maintenance.
What is the property tax rate in Lacon?
Lacon has an effective property tax rate of 2.296%, based on a median home value of $111,700 and median real estate taxes of $2,565. That is higher than the Marshall County average of 1.991%.
What is the average home price in Lacon?
The median owner-occupied home value in Lacon, Illinois is $111,700, against $137,800 across Marshall County.
Is it cheaper to rent or buy in Lacon?
Median gross rent in Lacon is $811 a month, against $1,210 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 Lacon — 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.