Total monthly cost of ownership
Cost to Own a Home in Lovington, Illinois
A $90,000 home here costs
$973per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $463. The real number is $510 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.
Lovington against Moultrie County and Illinois
| Measure | Lovington | Moultrie County |
|---|---|---|
| Median home value | $90,400 | $121,500 |
| Median property tax | $1,417 | $2,316 |
| Effective tax rate | 1.567% | 1.906% |
| Median gross rent | $748 | $773 |
| Population | 1,120 | 14,469 |
The weather behind that power bill
Lovington sits in Moultrie County, which averages a high of 86.0°F in its hottest month and a low of 18.5°F in its coldest, with 41.6" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 1,128 cooling and 5,449 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Moultrie County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Moultrie County
Full Moultrie County cost breakdown · Every county in Illinois
Common questions
How much does it cost to own a home in Lovington?
A $90,000 home in Lovington, Illinois costs approximately $973 per month with 20% down at 6.66%. That is $463 principal and interest, $118 property tax, $35 homeowners insurance, $282 utilities and $75 set aside for maintenance.
What is the property tax rate in Lovington?
Lovington has an effective property tax rate of 1.567%, based on a median home value of $90,400 and median real estate taxes of $1,417. That is lower than the Moultrie County average of 1.906%.
What is the average home price in Lovington?
The median owner-occupied home value in Lovington, Illinois is $90,400, against $121,500 across Moultrie County.
Is it cheaper to rent or buy in Lovington?
Median gross rent in Lovington is $748 a month, against $973 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 Lovington — 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.