Total monthly cost of ownership
Cost to Own a Home in Malta, Illinois
A $179,000 home here costs
$1,825per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $920. The real number is $905 higher every month — 98% 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.
Malta against DeKalb County and Illinois
| Measure | Malta | DeKalb County |
|---|---|---|
| Median home value | $178,900 | $231,900 |
| Median property tax | $4,833 | $5,889 |
| Effective tax rate | 2.702% | 2.539% |
| Median gross rent | $1,036 | $1,041 |
| Population | 1,507 | 100,512 |
The weather behind that power bill
Malta sits in DeKalb County, which averages a high of 83.1°F in its hottest month and a low of 13.1°F in its coldest, with 37.25" of precipitation a year and 36% of it in a single three-month stretch. That climate drives 790 cooling and 6,745 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for DeKalb County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in DeKalb County
Full DeKalb County cost breakdown · Every county in Illinois
Common questions
How much does it cost to own a home in Malta?
A $179,000 home in Malta, Illinois costs approximately $1,825 per month with 20% down at 6.66%. That is $920 principal and interest, $403 property tax, $70 homeowners insurance, $282 utilities and $149 set aside for maintenance.
What is the property tax rate in Malta?
Malta has an effective property tax rate of 2.702%, based on a median home value of $178,900 and median real estate taxes of $4,833. That is higher than the DeKalb County average of 2.539%.
What is the average home price in Malta?
The median owner-occupied home value in Malta, Illinois is $178,900, against $231,900 across DeKalb County.
Is it cheaper to rent or buy in Malta?
Median gross rent in Malta is $1,036 a month, against $1,825 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 Malta — 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.