Total monthly cost of ownership
Cost to Own a Home in Oswego, Illinois
A $319,000 home here costs
$2,992per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,640. The real number is $1,352 higher every month — 82% 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.
Oswego against Will County and Illinois
| Measure | Oswego | Will County |
|---|---|---|
| Median home value | $319,000 | $298,000 |
| Median property tax | $8,141 | $6,993 |
| Effective tax rate | 2.552% | 2.347% |
| Median gross rent | $1,823 | $1,413 |
| Population | 35,463 | 698,450 |
Oswego extends across 2 counties. Figures here use Will County, where most of its housing sits.
The weather behind that power bill
Oswego sits in Will County, which averages a high of 83.6°F in its hottest month and a low of 16.6°F in its coldest, with 38.03" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 872 cooling and 6,171 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Will County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Will County
Common questions
How much does it cost to own a home in Oswego?
A $319,000 home in Oswego, Illinois costs approximately $2,992 per month with 20% down at 6.66%. That is $1,640 principal and interest, $678 property tax, $125 homeowners insurance, $282 utilities and $266 set aside for maintenance.
What is the property tax rate in Oswego?
Oswego has an effective property tax rate of 2.552%, based on a median home value of $319,000 and median real estate taxes of $8,141. That is higher than the Will County average of 2.347%.
What is the average home price in Oswego?
The median owner-occupied home value in Oswego, Illinois is $319,000, against $298,000 across Will County.
Is it cheaper to rent or buy in Oswego?
Median gross rent in Oswego is $1,823 a month, against $2,992 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 Oswego — 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.