Total monthly cost of ownership
Cost to Own a Home in Neoga, Illinois
A $105,000 home here costs
$1,085per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $46,500 a year.
A standard mortgage calculator would have told you $572. The real number is $512 higher every month, 89% more than the payment most buyers budget for.
Compare Cumberland County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Neoga from a five-year rolling sample, and with about 1,248 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Cumberland County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Neoga against Cumberland County and Illinois
| Measure | Neoga | Cumberland County |
|---|---|---|
| Median home value | $104,600 | $117,700 |
| Median property tax | $2,172 | $2,068 |
| Effective tax rate | 2.076% | 1.757% |
| Median gross rent | $769 | $756 |
| Population | 1,248 | 10,378 |
The weather behind that power bill
Neoga sits in Cumberland 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 $134 electricity line above.
See the full climate breakdown for Cumberland County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Cumberland County
Full Cumberland County cost breakdown · Every county in Illinois
Talk to someone who works this market
These are Neoga averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Neoga every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Neoga?
A $105,000 home in Neoga, Illinois costs approximately $1,085 per month with 20% down at 7.24%. That is $572 principal and interest, $182 property tax, $41 homeowners insurance, $202 utilities and $88 set aside for maintenance.
What is the property tax rate in Neoga?
Neoga has an effective property tax rate of 2.076%, based on a median home value of $104,600 and median real estate taxes of $2,172. That is higher than the Cumberland County average of 1.757%.
What is the average home price in Neoga?
The median owner-occupied home value in Neoga, Illinois is $104,600, against $117,700 across Cumberland County.
Is it cheaper to rent or buy in Neoga?
Median gross rent in Neoga is $769 a month, against $1,085 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Neoga?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Neoga, Illinois at today's rate takes a household income of roughly $46,500 a year. That covers the full $1,085 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Neoga, 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.