Total monthly cost of ownership
Cost to Own a Home in Wood Dale, Illinois
A $303,000 home here costs
$2,705per 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 $116,000 a year.
A standard mortgage calculator would have told you $1,652. The real number is $1,053 higher every month, 64% more than the payment most buyers budget for.
Compare DuPage County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Wood Dale against DuPage County and Illinois
| Measure | Wood Dale | DuPage County |
|---|---|---|
| Median home value | $303,400 | $374,100 |
| Median property tax | $5,766 | $7,833 |
| Effective tax rate | 1.900% | 2.094% |
| Median gross rent | $1,652 | $1,628 |
| Population | 13,926 | 927,263 |
The weather behind that power bill
Wood Dale sits in DuPage County, which averages a high of 84.4°F in its hottest month and a low of 14.7°F in its coldest, with 40.18" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 775 cooling and 6,506 heating degree days, which is what sets the $134 electricity line above.
See the full climate breakdown for DuPage County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in DuPage County
Full DuPage County cost breakdown · Every county in Illinois
Talk to someone who works this market
These are Wood Dale 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 Wood Dale every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Wood Dale I already own here and may sell
Common questions
How much does it cost to own a home in Wood Dale?
A $303,000 home in Wood Dale, Illinois costs approximately $2,705 per month with 20% down at 7.24%. That is $1,652 principal and interest, $480 property tax, $119 homeowners insurance, $202 utilities and $253 set aside for maintenance.
What is the property tax rate in Wood Dale?
Wood Dale has an effective property tax rate of 1.900%, based on a median home value of $303,400 and median real estate taxes of $5,766. That is lower than the DuPage County average of 2.094%.
What is the average home price in Wood Dale?
The median owner-occupied home value in Wood Dale, Illinois is $303,400, against $374,100 across DuPage County.
Is it cheaper to rent or buy in Wood Dale?
Median gross rent in Wood Dale is $1,652 a month, against $2,705 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 Wood Dale?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Wood Dale, Illinois at today's rate takes a household income of roughly $116,000 a year. That covers the full $2,705 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Wood Dale, 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.