How much do homeowners pay a month in Franklin Grove, IL?
Homeowners with a mortgage in Franklin Grove, IL pay a median of $1,199 (±$128) a month in selected owner costs (2020–2024 American Community Survey).
Owners without a mortgage pay $583 (±$62).
60.0% of owned homes carry a mortgage.
In Franklin Grove, the median monthly cost with a mortgage went from $913 in 2015–2019 to $1,199 in 2020–2024 (+31.3%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
Figures last updated on .
- With a mortgage
- $1,199 (±$128)
- Without a mortgage
- $583 (±$62)
- Owned with a mortgage
- 60.0%
Monthly owner costs in Franklin Grove
| Franklin Grove | Lee County | Illinois | United States | |
|---|---|---|---|---|
| With a mortgage | $1,199 (±$128) | $1,403 (±$72) | $1,987 (±$6) | $1,963 |
| Without a mortgage | $583 (±$62) | $577 (±$27) | $792 (±$4) | $638 |
| Owned homes with a mortgage | 60.0% (±9.2 points) | 54.3% (±3.3 points) | 60.8% (±0.2 points) | 60.6% |
| Median real estate taxes (a year) | $2,128 (±$319) | $3,048 (±$176) | $5,298 (±$22) | $3,119 |
Selected monthly owner costs are the mortgage payment, property taxes, insurance, utilities, fuels and any condominium or mobile-home fees.
In Franklin Grove, the median cost with a mortgage is lower than in Lee County ($1,403).
It is also lower than in Illinois ($1,987).
It is lower than the national figure ($1,963).
In Lee County, Franklin Grove ranks 24 of 33 places with a published estimate, from highest to lowest median monthly cost with a mortgage.
Statewide, it ranks 1641 of 2,589.
Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.
How owner costs in Franklin Grove have changed since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Median owner cost with a mortgage | $913 (±$72) | $1,199 (±$128) | +31.3% | No measurable change after inflation |
| Median real estate taxes | $1,875 (±$162) | $2,128 (±$319) | +13.5% | No measurable change after inflation |
| Median home value | $88,100 (±$7,010) | $124,400 (±$12,493) | +41.2% | Up after inflation |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Median monthly cost with a mortgage in places near Franklin Grove
| Place | Distance | Median monthly cost with a mortgage | Compared with this place |
|---|---|---|---|
| Franklin Grove | — | $1,199 (±$128) | — |
| Franklin Grove Township | 1.4 mi | $1,238 (±$111) | Not measurably different |
| Nachusa Township | 3.9 mi | $1,406 (±$266) | Not measurably different |
| Ashton Township | 4.2 mi | $1,399 (±$238) | Not measurably different |
| Ashton | 4.4 mi | $1,156 (±$85) | Not measurably different |
| Bradford Township | 4.8 mi | $1,925 (±$216) | Higher |
| Taylor Township | 5.0 mi | $1,850 (±$327) | Higher |
| Lafayette Township (Ogle County) | 6.1 mi | $1,740 (±$291) | Higher |
| South Dixon Township | 8.3 mi | $1,530 (±$565) | Not measurably different |
Nearby places with a measurably higher figure: Bradford Township, IL ($1,925), Taylor Township, IL ($1,850), Lafayette Township (Ogle County), IL ($1,740).
Distance is measured in a straight line between the Census Bureau’s internal points for each place.
Median monthly cost with a mortgage across Lee County, place by place
| Rank | Place | Median monthly cost with a mortgage |
|---|---|---|
| 18 | Sublette Township | $1,333 (±$310) |
| 19 | Paw Paw | $1,301 (±$133) |
| 20 | Harmon Township | $1,275 (±$271) |
| 21 | Dixon Township | $1,252 (±$119) |
| 22 | Amboy Township | $1,250 (±$122) |
| 23 | Franklin Grove Township | $1,238 (±$111) |
| 24 | Franklin Grove | $1,199 (±$128) |
| 25 (tie) | Amboy | $1,197 (±$119) |
| 25 (tie) | Brooklyn Township (Lee County) | $1,197 (±$121) |
| 27 | Dixon | $1,186 (±$137) |
| 28 | Sublette | $1,168 (±$58) |
| 29 | Harmon | $1,167 (±$454) |
| 30 | Ashton | $1,156 (±$85) |
Showing 13 of 33 places in Lee County, ranked from highest to lowest.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
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Questions about Franklin Grove
What is the average mortgage payment in Franklin Grove?
The Census Bureau publishes total owner costs rather than the mortgage alone: the median for owners with a mortgage in Franklin Grove, IL is $1,199 (±$128) a month, including taxes, insurance and utilities.
How much does it cost to own a paid-off home in Franklin Grove?
Owners without a mortgage in Franklin Grove pay a median of $583 (±$62) a month in taxes, insurance, utilities and fees.
Has the cost of owning a home in Franklin Grove gone up?
In Franklin Grove, the median monthly cost with a mortgage went from $913 in 2015–2019 to $1,199 in 2020–2024 (+31.3%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
Sources
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Franklin Grove village, Illinois
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2020–2024 ACS 5-year estimates — Franklin Grove village, Illinois
- Median Selected Monthly Owner Costs (B25088), 2015–2019 ACS 5-year estimates — Franklin Grove village, Illinois
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2015–2019 ACS 5-year estimates — Franklin Grove village, Illinois
- Median Value (B25077), 2015–2019 ACS 5-year estimates — Franklin Grove village, Illinois
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) and detailed tables (acs/acs5) for Franklin Grove village, Illinois (place:27689, in state:17).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B25088_002E, B25088_002M, B25103_001E, B25103_001M, B25077_001E, B25077_001M from the 2019 release.
The API needs a free key.
DP04_0101E, DP04_0101M, DP04_0109E, DP04_0109M, DP04_0091PE, DP04_0091PM, B25103_001E, B25103_001M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .
Related
- Housing in Franklin Grove at a glance
- Median rent in Franklin Grove
- Renters and owners in Franklin Grove
- Income and affordability in Franklin Grove
- Home values in Franklin Grove
- Property taxes in Franklin Grove
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- Bedrooms in Franklin Grove
- Age of homes in Franklin Grove
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- Commute and cars in Franklin Grove
- Illinois landlord and tenant rules
- Housing across Lee County
- Housing data for every place in Illinois