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State: Illinois

Illinois Home Affordability Calculator 2026

High Property Tax State— 2.27% effective rate reduces max home price

How much house can you afford in Illinois? With a 2.27% effective property tax (median home: $$6,016/yr), see max home prices using the 28% PITI rule and a 6.99% 30-year mortgage.

Max Home Price ($100K Income)

$305,996

20% down · 6.99% rate · 28% DTI

Monthly PITI

$2333

Prop Tax/mo

$579

Median Home

$265,000

Annual Tax

$6,016

Effective Rate

2.27%

Monthly Tax

$501/mo

Illinois Max Home Price by Income (28% DTI Rule)

Income	Max Home Price	Monthly PITI	Down (20%)	Monthly PI	Prop Tax/mo
$60,000	$183,597	$1400	$36,719	$976	$347
$80,000	$244,796	$1867	$48,959	$1302	$463
$100,000	$305,996	$2333	$61,199	$1627	$579
$120,000	$367,195	$2800	$73,439	$1952	$695
$150,000	$458,993	$3500	$91,799	$2440	$868
$200,000	$611,991	$4667	$122,398	$3254	$1158

Assumes 20% down payment, 6.99% 30-year fixed mortgage rate, 0.5% homeowners insurance, 2.27% Illinois property tax.

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Frequently Asked Questions — Illinois

What is the property tax rate in Illinois?: Illinois has an effective property tax rate of 2.27%. On the median home value of $265,000, that works out to approximately $6,016 per year ($501/month) in property taxes.
How much house can I afford on $100K in Illinois?: On a $100,000 annual income in Illinois, the 28% front-end DTI rule allows a maximum monthly PITI of approximately $2333. With a 20% down payment, a 6.99% 30-year mortgage, and Illinois's 2.27% property tax, you can afford approximately $305,996 — with monthly principal & interest of $1627 plus $579/month in property taxes.
How does Illinois's property tax affect home affordability?: Illinois's high property tax rate of 2.27% meaningfully reduces home affordability. Every $100,000 of home value adds roughly $2,270/year ($189/month) in property taxes, which counts against your 28% PITI limit and lowers your maximum home price compared to lower-tax states.
What's included in a mortgage PITI payment?: PITI stands for Principal, Interest, Taxes, and Insurance. Principal and interest are your mortgage payments that pay down the loan. Taxes refers to annual property taxes (divided into monthly escrow). Insurance includes homeowners insurance (typically 0.5% of home value/year) and any required mortgage insurance (PMI) if your down payment is less than 20%. Lenders generally want PITI to be no more than 28% of your gross monthly income.

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Illinois Home Affordability Calculator 2026

High Property Tax State— 2.27% effective rate reduces max home price

How much house can you afford in Illinois? With a 2.27% effective property tax (median home: $$6,016/yr), see max home prices using the 28% PITI rule and a 6.99% 30-year mortgage.

Max Home Price ($100K Income)

$305,996

20% down · 6.99% rate · 28% DTI

Monthly PITI

$2333

Prop Tax/mo

$579

Median Home

$265,000

Annual Tax

$6,016

Effective Rate

2.27%

Monthly Tax

$501/mo

Illinois Max Home Price by Income (28% DTI Rule)

Income	Max Home Price	Monthly PITI	Down (20%)	Monthly PI	Prop Tax/mo
$60,000	$183,597	$1400	$36,719	$976	$347
$80,000	$244,796	$1867	$48,959	$1302	$463
$100,000	$305,996	$2333	$61,199	$1627	$579
$120,000	$367,195	$2800	$73,439	$1952	$695
$150,000	$458,993	$3500	$91,799	$2440	$868
$200,000	$611,991	$4667	$122,398	$3254	$1158

Assumes 20% down payment, 6.99% 30-year fixed mortgage rate, 0.5% homeowners insurance, 2.27% Illinois property tax.

Frequently Asked Questions — Illinois

What is the property tax rate in Illinois?

Illinois has an effective property tax rate of 2.27%. On the median home value of $265,000, that works out to approximately $6,016 per year ($501/month) in property taxes.

How much house can I afford on $100K in Illinois?

On a $100,000 annual income in Illinois, the 28% front-end DTI rule allows a maximum monthly PITI of approximately $2333. With a 20% down payment, a 6.99% 30-year mortgage, and Illinois's 2.27% property tax, you can afford approximately $305,996 — with monthly principal & interest of $1627 plus $579/month in property taxes.

How does Illinois's property tax affect home affordability?

Illinois's high property tax rate of 2.27% meaningfully reduces home affordability. Every $100,000 of home value adds roughly $2,270/year ($189/month) in property taxes, which counts against your 28% PITI limit and lowers your maximum home price compared to lower-tax states.

What's included in a mortgage PITI payment?

PITI stands for Principal, Interest, Taxes, and Insurance. Principal and interest are your mortgage payments that pay down the loan. Taxes refers to annual property taxes (divided into monthly escrow). Insurance includes homeowners insurance (typically 0.5% of home value/year) and any required mortgage insurance (PMI) if your down payment is less than 20%. Lenders generally want PITI to be no more than 28% of your gross monthly income.