Total monthly cost of ownership
Cost to Own a Home in Mason City, Illinois
A $92,000 home here costs
$1,043per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $473. The real number is $570 higher every month — 121% 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.
Mason City against Mason County and Illinois
| Measure | Mason City | Mason County |
|---|---|---|
| Median home value | $92,200 | $106,100 |
| Median property tax | $2,107 | $2,277 |
| Effective tax rate | 2.285% | 2.146% |
| Median gross rent | $785 | $760 |
| Population | 2,094 | 12,878 |
The weather behind that power bill
Mason City sits in Mason County, which averages a high of 88.1°F in its hottest month and a low of 16.4°F in its coldest, with 41.04" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 1,161 cooling and 5,686 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Mason County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Mason County
Common questions
How much does it cost to own a home in Mason City?
A $92,000 home in Mason City, Illinois costs approximately $1,043 per month with 20% down at 6.66%. That is $473 principal and interest, $175 property tax, $36 homeowners insurance, $282 utilities and $77 set aside for maintenance.
What is the property tax rate in Mason City?
Mason City has an effective property tax rate of 2.285%, based on a median home value of $92,200 and median real estate taxes of $2,107. That is higher than the Mason County average of 2.146%.
What is the average home price in Mason City?
The median owner-occupied home value in Mason City, Illinois is $92,200, against $106,100 across Mason County.
Is it cheaper to rent or buy in Mason City?
Median gross rent in Mason City is $785 a month, against $1,043 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 Mason City — 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.