Total monthly cost of ownership
Cost to Own a Home in Mattoon, Illinois
A $96,000 home here costs
$1,054per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $494. The real number is $561 higher every month — 114% 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.
Mattoon against Coles County and Illinois
| Measure | Mattoon | Coles County |
|---|---|---|
| Median home value | $96,000 | $121,900 |
| Median property tax | $1,927 | $2,494 |
| Effective tax rate | 2.007% | 2.046% |
| Median gross rent | $764 | $793 |
| Population | 16,334 | 46,689 |
The weather behind that power bill
Mattoon sits in Coles County, which averages a high of 85.6°F in its hottest month and a low of 20.3°F in its coldest, with 36" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 1,116 cooling and 5,297 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Coles County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Coles County
Common questions
How much does it cost to own a home in Mattoon?
A $96,000 home in Mattoon, Illinois costs approximately $1,054 per month with 20% down at 6.66%. That is $494 principal and interest, $161 property tax, $38 homeowners insurance, $282 utilities and $80 set aside for maintenance.
What is the property tax rate in Mattoon?
Mattoon has an effective property tax rate of 2.007%, based on a median home value of $96,000 and median real estate taxes of $1,927. That is lower than the Coles County average of 2.046%.
What is the average home price in Mattoon?
The median owner-occupied home value in Mattoon, Illinois is $96,000, against $121,900 across Coles County.
Is it cheaper to rent or buy in Mattoon?
Median gross rent in Mattoon is $764 a month, against $1,054 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 Mattoon — 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.