Total monthly cost of ownership
Cost to Own a Home in Morris, Illinois
A $244,000 home here costs
$2,268per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,254. The real number is $1,013 higher every month — 81% 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.
Morris against Grundy County and Illinois
| Measure | Morris | Grundy County |
|---|---|---|
| Median home value | $244,400 | $259,200 |
| Median property tax | $5,190 | $5,260 |
| Effective tax rate | 2.124% | 2.029% |
| Median gross rent | $1,141 | $1,137 |
| Population | 14,775 | 52,920 |
The weather behind that power bill
Morris sits in Grundy County, which averages a high of 84.9°F in its hottest month and a low of 15.7°F in its coldest, with 38.79" of precipitation a year and 36% of it in a single three-month stretch. That climate drives 995 cooling and 6,141 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Grundy County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Grundy County
Full Grundy County cost breakdown · Every county in Illinois
Common questions
How much does it cost to own a home in Morris?
A $244,000 home in Morris, Illinois costs approximately $2,268 per month with 20% down at 6.66%. That is $1,254 principal and interest, $432 property tax, $96 homeowners insurance, $282 utilities and $203 set aside for maintenance.
What is the property tax rate in Morris?
Morris has an effective property tax rate of 2.124%, based on a median home value of $244,400 and median real estate taxes of $5,190. That is higher than the Grundy County average of 2.029%.
What is the average home price in Morris?
The median owner-occupied home value in Morris, Illinois is $244,400, against $259,200 across Grundy County.
Is it cheaper to rent or buy in Morris?
Median gross rent in Morris is $1,141 a month, against $2,268 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 Morris — 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.