Total monthly cost of ownership
Cost to Own a Home in Newton, Illinois
A $99,000 home here costs
$1,028per 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 $44,000 a year.
A standard mortgage calculator would have told you $540. The real number is $488 higher every month, 90% more than the payment most buyers budget for.
Compare Jasper County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Newton from a five-year rolling sample, and with about 2,852 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 Jasper 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.
Newton against Jasper County and Illinois
| Measure | Newton | Jasper County |
|---|---|---|
| Median home value | $98,900 | $122,900 |
| Median property tax | $1,979 | $2,341 |
| Effective tax rate | 2.001% | 1.905% |
| Median gross rent | $745 | $766 |
| Population | 2,852 | 9,233 |
The weather behind that power bill
Newton sits in Jasper County, which averages a high of 86.4°F in its hottest month and a low of 21.7°F in its coldest, with 46.03" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 1,234 cooling and 5,036 heating degree days, which is what sets the $134 electricity line above.
See the full climate breakdown for Jasper County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Jasper County
No other places of this size are published in Jasper County.
Full Jasper County cost breakdown · Every county in Illinois
Talk to someone who works this market
These are Newton 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 Newton every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Newton I already own here and may sell
Common questions
How much does it cost to own a home in Newton?
A $99,000 home in Newton, Illinois costs approximately $1,028 per month with 20% down at 7.24%. That is $540 principal and interest, $165 property tax, $39 homeowners insurance, $202 utilities and $83 set aside for maintenance.
What is the property tax rate in Newton?
Newton has an effective property tax rate of 2.001%, based on a median home value of $98,900 and median real estate taxes of $1,979. That is higher than the Jasper County average of 1.905%.
What is the average home price in Newton?
The median owner-occupied home value in Newton, Illinois is $98,900, against $122,900 across Jasper County.
Is it cheaper to rent or buy in Newton?
Median gross rent in Newton is $745 a month, against $1,028 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 Newton?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Newton, Illinois at today's rate takes a household income of roughly $44,000 a year. That covers the full $1,028 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Newton, 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.