Total monthly cost of ownership
Cost to Own a Home in Marion, Illinois
A $145,000 home here costs
$1,411per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $745. The real number is $666 higher every month — 89% 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.
Marion against Williamson County and Illinois
| Measure | Marion | Williamson County |
|---|---|---|
| Median home value | $145,300 | $145,600 |
| Median property tax | $2,472 | $2,490 |
| Effective tax rate | 1.701% | 1.710% |
| Median gross rent | $878 | $897 |
| Population | 16,796 | 66,902 |
The weather behind that power bill
Marion sits in Williamson County, which averages a high of 88.4°F in its hottest month and a low of 24.8°F in its coldest, with 44.01" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 1,370 cooling and 4,460 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Williamson County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Williamson County
Full Williamson County cost breakdown · Every county in Illinois
Common questions
How much does it cost to own a home in Marion?
A $145,000 home in Marion, Illinois costs approximately $1,411 per month with 20% down at 6.66%. That is $745 principal and interest, $206 property tax, $57 homeowners insurance, $282 utilities and $121 set aside for maintenance.
What is the property tax rate in Marion?
Marion has an effective property tax rate of 1.701%, based on a median home value of $145,300 and median real estate taxes of $2,472. That is in line with the Williamson County average of 1.710%.
What is the average home price in Marion?
The median owner-occupied home value in Marion, Illinois is $145,300, against $145,600 across Williamson County.
Is it cheaper to rent or buy in Marion?
Median gross rent in Marion is $878 a month, against $1,411 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 Marion — 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.