Total monthly cost of ownership
Cost to Own a Home in Pana, Illinois
A $82,000 home here costs
$916per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $422. The real number is $495 higher every month — 117% 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.
Pana against Christian County and Illinois
| Measure | Pana | Christian County |
|---|---|---|
| Median home value | $82,000 | $112,100 |
| Median property tax | $1,341 | $1,896 |
| Effective tax rate | 1.635% | 1.691% |
| Median gross rent | $670 | $729 |
| Population | 5,277 | 33,684 |
Pana extends across 2 counties. Figures here use Christian County, where most of its housing sits.
The weather behind that power bill
Pana sits in Christian County, which averages a high of 86.4°F in its hottest month and a low of 19.3°F in its coldest, with 38.12" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 1,206 cooling and 5,323 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Christian County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Christian County
Full Christian County cost breakdown · Every county in Illinois
Common questions
How much does it cost to own a home in Pana?
A $82,000 home in Pana, Illinois costs approximately $916 per month with 20% down at 6.66%. That is $422 principal and interest, $112 property tax, $32 homeowners insurance, $282 utilities and $68 set aside for maintenance.
What is the property tax rate in Pana?
Pana has an effective property tax rate of 1.635%, based on a median home value of $82,000 and median real estate taxes of $1,341. That is lower than the Christian County average of 1.691%.
What is the average home price in Pana?
The median owner-occupied home value in Pana, Illinois is $82,000, against $112,100 across Christian County.
Is it cheaper to rent or buy in Pana?
Median gross rent in Pana is $670 a month, against $916 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 Pana — 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.