Total monthly cost of ownership
Cost to Own a Home in Mount Morris, Illinois
A $118,000 home here costs
$1,252per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $607. The real number is $645 higher every month — 106% 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.
Mount Morris against Ogle County and Illinois
| Measure | Mount Morris | Ogle County |
|---|---|---|
| Median home value | $117,600 | $184,100 |
| Median property tax | $2,610 | $3,737 |
| Effective tax rate | 2.219% | 2.030% |
| Median gross rent | $487 | $901 |
| Population | 2,679 | 51,536 |
The weather behind that power bill
Mount Morris sits in Ogle County, which averages a high of 83.9°F in its hottest month and a low of 14.5°F in its coldest, with 37.24" of precipitation a year and 36% of it in a single three-month stretch. That climate drives 839 cooling and 6,497 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Ogle County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Ogle County
Common questions
How much does it cost to own a home in Mount Morris?
A $118,000 home in Mount Morris, Illinois costs approximately $1,252 per month with 20% down at 6.66%. That is $607 principal and interest, $218 property tax, $46 homeowners insurance, $282 utilities and $98 set aside for maintenance.
What is the property tax rate in Mount Morris?
Mount Morris has an effective property tax rate of 2.219%, based on a median home value of $117,600 and median real estate taxes of $2,610. That is higher than the Ogle County average of 2.030%.
What is the average home price in Mount Morris?
The median owner-occupied home value in Mount Morris, Illinois is $117,600, against $184,100 across Ogle County.
Is it cheaper to rent or buy in Mount Morris?
Median gross rent in Mount Morris is $487 a month, against $1,252 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 Mount 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.