Total monthly cost of ownership
Cost to Own a Home in Lily Lake, Illinois
A $379,000 home here costs
$3,528per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,948. The real number is $1,580 higher every month — 81% 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.
Lily Lake against Kane County and Illinois
| Measure | Lily Lake | Kane County |
|---|---|---|
| Median home value | $379,300 | $303,000 |
| Median property tax | $10,001 | $7,230 |
| Effective tax rate | 2.637% | 2.386% |
| Median gross rent | $1,438 | $1,404 |
| Population | 1,432 | 516,097 |
The weather behind that power bill
Lily Lake sits in Kane County, which averages a high of 84.0°F in its hottest month and a low of 16.1°F in its coldest, with 33.23" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 822 cooling and 6,364 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Kane County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Kane County
Common questions
How much does it cost to own a home in Lily Lake?
A $379,000 home in Lily Lake, Illinois costs approximately $3,528 per month with 20% down at 6.66%. That is $1,948 principal and interest, $833 property tax, $148 homeowners insurance, $282 utilities and $316 set aside for maintenance.
What is the property tax rate in Lily Lake?
Lily Lake has an effective property tax rate of 2.637%, based on a median home value of $379,300 and median real estate taxes of $10,001. That is higher than the Kane County average of 2.386%.
What is the average home price in Lily Lake?
The median owner-occupied home value in Lily Lake, Illinois is $379,300, against $303,000 across Kane County.
Is it cheaper to rent or buy in Lily Lake?
Median gross rent in Lily Lake is $1,438 a month, against $3,528 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 Lily Lake — 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.