Total monthly cost of ownership
Cost to Own a Home in Winthrop Harbor, Illinois
A $239,000 home here costs
$2,414per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,229. The real number is $1,186 higher every month — 96% 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.
Winthrop Harbor against Lake County and Illinois
| Measure | Winthrop Harbor | Lake County |
|---|---|---|
| Median home value | $238,800 | $326,600 |
| Median property tax | $7,319 | $8,743 |
| Effective tax rate | 3.065% | 2.677% |
| Median gross rent | $1,262 | $1,434 |
| Population | 6,663 | 711,885 |
The weather behind that power bill
Winthrop Harbor sits in Lake County, which averages a high of 83.5°F in its hottest month and a low of 16.3°F in its coldest, with 39.51" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 806 cooling and 6,366 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Lake County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lake County
Common questions
How much does it cost to own a home in Winthrop Harbor?
A $239,000 home in Winthrop Harbor, Illinois costs approximately $2,414 per month with 20% down at 6.66%. That is $1,229 principal and interest, $610 property tax, $94 homeowners insurance, $282 utilities and $199 set aside for maintenance.
What is the property tax rate in Winthrop Harbor?
Winthrop Harbor has an effective property tax rate of 3.065%, based on a median home value of $238,800 and median real estate taxes of $7,319. That is higher than the Lake County average of 2.677%.
What is the average home price in Winthrop Harbor?
The median owner-occupied home value in Winthrop Harbor, Illinois is $238,800, against $326,600 across Lake County.
Is it cheaper to rent or buy in Winthrop Harbor?
Median gross rent in Winthrop Harbor is $1,262 a month, against $2,414 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 Winthrop Harbor — 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.