Total monthly cost of ownership
Cost to Own a Home in Nokomis, Illinois
A $78,000 home here costs
$890per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $401. The real number is $489 higher every month — 122% 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.
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 $214 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
Common questions
How much does it cost to own a home in Nokomis?
A $78,000 home in Nokomis, Illinois costs approximately $890 per month with 20% down at 6.66%. That is $401 principal and interest, $111 property tax, $31 homeowners insurance, $282 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 $890 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 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.