Total monthly cost of ownership
Cost to Own a Home in Palestine, Illinois
A $76,000 home here costs
$883per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $391. The real number is $492 higher every month — 126% 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.
Palestine against Crawford County and Illinois
| Measure | Palestine | Crawford County |
|---|---|---|
| Median home value | $75,800 | $113,700 |
| Median property tax | $1,398 | $1,769 |
| Effective tax rate | 1.844% | 1.556% |
| Median gross rent | $755 | $761 |
| Population | 1,396 | 18,588 |
The weather behind that power bill
Palestine sits in Crawford County, which averages a high of 87.4°F in its hottest month and a low of 20.1°F in its coldest, with 45.48" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 1,249 cooling and 5,170 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Crawford County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Crawford County
Full Crawford County cost breakdown · Every county in Illinois
Common questions
How much does it cost to own a home in Palestine?
A $76,000 home in Palestine, Illinois costs approximately $883 per month with 20% down at 6.66%. That is $391 principal and interest, $117 property tax, $30 homeowners insurance, $282 utilities and $63 set aside for maintenance.
What is the property tax rate in Palestine?
Palestine has an effective property tax rate of 1.844%, based on a median home value of $75,800 and median real estate taxes of $1,398. That is higher than the Crawford County average of 1.556%.
What is the average home price in Palestine?
The median owner-occupied home value in Palestine, Illinois is $75,800, against $113,700 across Crawford County.
Is it cheaper to rent or buy in Palestine?
Median gross rent in Palestine is $755 a month, against $883 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 Palestine — 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.