Total monthly cost of ownership
Cost to Own a Home in Nokomis, Illinois
A $78,000 home here costs
$834per 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 $35,500 a year.
A standard mortgage calculator would have told you $425. The real number is $408 higher every month, 96% more than the payment most buyers budget for.
Compare Montgomery County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Nokomis from a five-year rolling sample, and with about 2,213 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 Montgomery 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.
Nokomis against Montgomery County and Illinois
| Measure | Nokomis | Montgomery County |
|---|---|---|
| Median home value | $78,400 | $102,200 |
| Median property tax | $1,338 | $1,758 |
| Effective tax rate | 1.707% | 1.720% |
| Median gross rent | $800 | $715 |
| Population | 2,213 | 28,078 |
The weather behind that power bill
Nokomis sits in Montgomery County, which averages a high of 88.7°F in its hottest month and a low of 21.4°F in its coldest, with 42.07" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 1,389 cooling and 4,799 heating degree days, which is what sets the $134 electricity line above.
See the full climate breakdown for Montgomery County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Montgomery County
Full Montgomery County cost breakdown · Every county in Illinois
Talk to someone who works this market
These are Nokomis 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 Nokomis every week. Free, no obligation, and we never sell your details to a list.
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Common questions
How much does it cost to own a home in Nokomis?
A $78,000 home in Nokomis, Illinois costs approximately $834 per month with 20% down at 7.24%. That is $425 principal and interest, $111 property tax, $31 homeowners insurance, $202 utilities and $65 set aside for maintenance.
What is the property tax rate in Nokomis?
Nokomis has an effective property tax rate of 1.707%, based on a median home value of $78,400 and median real estate taxes of $1,338. That is lower than the Montgomery County average of 1.720%.
What is the average home price in Nokomis?
The median owner-occupied home value in Nokomis, Illinois is $78,400, against $102,200 across Montgomery County.
Is it cheaper to rent or buy in Nokomis?
Median gross rent in Nokomis is $800 a month, against $834 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 Nokomis?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Nokomis, Illinois at today's rate takes a household income of roughly $35,500 a year. That covers the full $834 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Nokomis, 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.