Total monthly cost of ownership
Cost to Own a Home in Raymond, Illinois
A $97,000 home here costs
$1,062per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $499. The real number is $563 higher every month — 113% 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.
Raymond against Montgomery County and Illinois
| Measure | Raymond | Montgomery County |
|---|---|---|
| Median home value | $96,600 | $102,200 |
| Median property tax | $1,931 | $1,758 |
| Effective tax rate | 1.999% | 1.720% |
| Median gross rent | $833 | $715 |
| Population | 1,065 | 28,078 |
The weather behind that power bill
Raymond 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 Raymond?
A $97,000 home in Raymond, Illinois costs approximately $1,062 per month with 20% down at 6.66%. That is $499 principal and interest, $162 property tax, $38 homeowners insurance, $282 utilities and $81 set aside for maintenance.
What is the property tax rate in Raymond?
Raymond has an effective property tax rate of 1.999%, based on a median home value of $96,600 and median real estate taxes of $1,931. That is higher than the Montgomery County average of 1.720%.
What is the average home price in Raymond?
The median owner-occupied home value in Raymond, Illinois is $96,600, against $102,200 across Montgomery County.
Is it cheaper to rent or buy in Raymond?
Median gross rent in Raymond is $833 a month, against $1,062 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 Raymond — 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.