Total monthly cost of ownership
Cost to Own a Home in Monmouth, Illinois
A $88,000 home here costs
$989per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $452. The real number is $537 higher every month — 119% 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.
Monmouth against Warren County and Illinois
| Measure | Monmouth | Warren County |
|---|---|---|
| Median home value | $88,100 | $101,300 |
| Median property tax | $1,762 | $1,921 |
| Effective tax rate | 2.000% | 1.896% |
| Median gross rent | $652 | $694 |
| Population | 8,794 | 16,576 |
The weather behind that power bill
Monmouth sits in Warren County, which averages a high of 84.1°F in its hottest month and a low of 14.7°F in its coldest, with 39.42" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 891 cooling and 6,099 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Warren County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Warren County
No other places of this size are published in Warren County.
Full Warren County cost breakdown · Every county in Illinois
Common questions
How much does it cost to own a home in Monmouth?
A $88,000 home in Monmouth, Illinois costs approximately $989 per month with 20% down at 6.66%. That is $452 principal and interest, $147 property tax, $34 homeowners insurance, $282 utilities and $73 set aside for maintenance.
What is the property tax rate in Monmouth?
Monmouth has an effective property tax rate of 2.000%, based on a median home value of $88,100 and median real estate taxes of $1,762. That is higher than the Warren County average of 1.896%.
What is the average home price in Monmouth?
The median owner-occupied home value in Monmouth, Illinois is $88,100, against $101,300 across Warren County.
Is it cheaper to rent or buy in Monmouth?
Median gross rent in Monmouth is $652 a month, against $989 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 Monmouth — 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.