Calculate your monthly mortgage payment in Illinois. Pre-filled with Illinois's median home price of $270,000 and an average property tax rate of 2.27%.
Est. Monthly Payment
$2,215
Principal & Interest
$1,591
Property Tax / mo
$511
Total Interest Paid
$329,637
| Home Price | $270,000 | Median home price in Illinois (2025) |
| Down Payment | 10% ($27,000) | Typical down payment percentage |
| Loan Amount | $243,000 | Home price minus down payment |
| Interest Rate | 6.84% | Approximate 30-year fixed rate (2025 avg) |
| Loan Term | 30 years | Most common mortgage term |
| Property Tax | 2.27% / year | Illinois average effective rate |
| Home Insurance | 0.5% / year | Approximate annual premium |
IHDA Access Forgivable, IHDA Access Deferred, Smartbuy
Cost of living: Moderate · Population: 12,812,508
Illinois has a median home price of approximately $270,000, placing it below the national median. With a 10% down payment of $27,000, a typical buyer would finance $243,000 over 30 years. At a 6.84% fixed rate, the monthly principal and interest payment comes to $1,591.
Property taxes in Illinois average 2.27% of the assessed home value annually — one of the higher rates in the country. Combined with an estimated $113 for homeowners insurance, your all-in monthly housing cost is approximately $2,215.
Using the 28% housing cost guideline, you would need a gross annual income of approximately $94,914 to qualify comfortably. The median household income in Illinois is $68,428.
