Total monthly cost of ownership
Cost to Own a Home in Montgomery, Illinois
A $271,000 home here costs
$2,587per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,393. The real number is $1,193 higher every month — 86% 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.
Montgomery against Kane County and Illinois
| Measure | Montgomery | Kane County |
|---|---|---|
| Median home value | $270,700 | $303,000 |
| Median property tax | $6,941 | $7,230 |
| Effective tax rate | 2.564% | 2.386% |
| Median gross rent | $1,897 | $1,404 |
| Population | 21,205 | 516,097 |
Montgomery extends across 2 counties. Figures here use Kane County, where most of its housing sits.
The weather behind that power bill
Montgomery sits in Kane County, which averages a high of 84.0°F in its hottest month and a low of 16.1°F in its coldest, with 33.23" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 822 cooling and 6,364 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Kane County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Kane County
Common questions
How much does it cost to own a home in Montgomery?
A $271,000 home in Montgomery, Illinois costs approximately $2,587 per month with 20% down at 6.66%. That is $1,393 principal and interest, $579 property tax, $106 homeowners insurance, $282 utilities and $226 set aside for maintenance.
What is the property tax rate in Montgomery?
Montgomery has an effective property tax rate of 2.564%, based on a median home value of $270,700 and median real estate taxes of $6,941. That is higher than the Kane County average of 2.386%.
What is the average home price in Montgomery?
The median owner-occupied home value in Montgomery, Illinois is $270,700, against $303,000 across Kane County.
Is it cheaper to rent or buy in Montgomery?
Median gross rent in Montgomery is $1,897 a month, against $2,587 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 Montgomery — 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.