Total monthly cost of ownership
Cost to Own a Home in Thomson, Illinois
A $122,000 home here costs
$1,250per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $627. The real number is $622 higher every month — 99% 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.
Thomson against Carroll County and Illinois
| Measure | Thomson | Carroll County |
|---|---|---|
| Median home value | $122,300 | $113,500 |
| Median property tax | $2,292 | $2,308 |
| Effective tax rate | 1.874% | 2.033% |
| Median gross rent | $940 | $784 |
| Population | 1,526 | 15,621 |
The weather behind that power bill
Thomson sits in Carroll County, which averages a high of 84.9°F in its hottest month and a low of 10.9°F in its coldest, with 40.3" of precipitation a year and 37% of it in a single three-month stretch. That climate drives 746 cooling and 6,733 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Carroll County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Carroll County
Full Carroll County cost breakdown · Every county in Illinois
Common questions
How much does it cost to own a home in Thomson?
A $122,000 home in Thomson, Illinois costs approximately $1,250 per month with 20% down at 6.66%. That is $627 principal and interest, $191 property tax, $48 homeowners insurance, $282 utilities and $102 set aside for maintenance.
What is the property tax rate in Thomson?
Thomson has an effective property tax rate of 1.874%, based on a median home value of $122,300 and median real estate taxes of $2,292. That is lower than the Carroll County average of 2.033%.
What is the average home price in Thomson?
The median owner-occupied home value in Thomson, Illinois is $122,300, against $113,500 across Carroll County.
Is it cheaper to rent or buy in Thomson?
Median gross rent in Thomson is $940 a month, against $1,250 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 Thomson — 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.