Total monthly cost of ownership
Cost to Own a Home in St. Elmo, Illinois
A $80,000 home here costs
$829per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $35,500 a year.
A standard mortgage calculator would have told you $436. The real number is $393 higher every month, 90% more than the payment most buyers budget for.
Compare Fayette County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for St. Elmo from a five-year rolling sample, and with about 1,401 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Fayette County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
St. Elmo against Fayette County and Illinois
| Measure | St. Elmo | Fayette County |
|---|---|---|
| Median home value | $80,300 | $114,700 |
| Median property tax | $1,121 | $1,740 |
| Effective tax rate | 1.396% | 1.517% |
| Median gross rent | $759 | $740 |
| Population | 1,401 | 21,380 |
The weather behind that power bill
St. Elmo sits in Fayette County, which averages a high of 86.7°F in its hottest month and a low of 21.3°F in its coldest, with 41.2" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 1,274 cooling and 5,046 heating degree days, which is what sets the $134 electricity line above.
See the full climate breakdown for Fayette County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Fayette County
Full Fayette County cost breakdown · Every county in Illinois
Talk to someone who works this market
These are St. Elmo averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works St. Elmo every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in St. Elmo I already own here and may sell
Common questions
How much does it cost to own a home in St. Elmo?
A $80,000 home in St. Elmo, Illinois costs approximately $829 per month with 20% down at 7.24%. That is $436 principal and interest, $93 property tax, $31 homeowners insurance, $202 utilities and $67 set aside for maintenance.
What is the property tax rate in St. Elmo?
St. Elmo has an effective property tax rate of 1.396%, based on a median home value of $80,300 and median real estate taxes of $1,121. That is lower than the Fayette County average of 1.517%.
What is the average home price in St. Elmo?
The median owner-occupied home value in St. Elmo, Illinois is $80,300, against $114,700 across Fayette County.
Is it cheaper to rent or buy in St. Elmo?
Median gross rent in St. Elmo is $759 a month, against $829 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in St. Elmo?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in St. Elmo, Illinois at today's rate takes a household income of roughly $35,500 a year. That covers the full $829 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for St. Elmo, 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.