Total monthly cost of ownership
Cost to Own a Home in Macomb, Illinois
A $100,000 home here costs
$1,154per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $514. The real number is $639 higher every month — 124% 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.
Macomb against McDonough County and Illinois
| Measure | Macomb | McDonough County |
|---|---|---|
| Median home value | $99,800 | $103,500 |
| Median property tax | $2,809 | $2,238 |
| Effective tax rate | 2.815% | 2.162% |
| Median gross rent | $733 | $730 |
| Population | 15,006 | 27,102 |
The weather behind that power bill
Macomb sits in McDonough County, which averages a high of 85.7°F in its hottest month and a low of 16.0°F in its coldest, with 38.46" of precipitation a year and 36% of it in a single three-month stretch. That climate drives 1,017 cooling and 5,886 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for McDonough County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in McDonough County
Full McDonough County cost breakdown · Every county in Illinois
Common questions
How much does it cost to own a home in Macomb?
A $100,000 home in Macomb, Illinois costs approximately $1,154 per month with 20% down at 6.66%. That is $514 principal and interest, $235 property tax, $39 homeowners insurance, $282 utilities and $83 set aside for maintenance.
What is the property tax rate in Macomb?
Macomb has an effective property tax rate of 2.815%, based on a median home value of $99,800 and median real estate taxes of $2,809. That is higher than the McDonough County average of 2.162%.
What is the average home price in Macomb?
The median owner-occupied home value in Macomb, Illinois is $99,800, against $103,500 across McDonough County.
Is it cheaper to rent or buy in Macomb?
Median gross rent in Macomb is $733 a month, against $1,154 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 Macomb — 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.