What’s the average mortgage payment in Illinois?

According to data collected from Redfin and Rocket Mortgage, the average monthly mortgage payment in Illinois is around $1,618 before property taxes and insurance. Illinois offers a wide range of housing affordability, from higher-priced suburban communities outside Chicago to significantly more affordable homes in rural and central parts of the state. As a result, the typical mortgage payment in Illinois sits below the national average, despite competitive pricing in certain metro areas.

Overview of the Illinois housing market

The median sale price in Illinois is approximately $302,600 as of late 2025, according to Redfin data, reflecting moderate year-over-year price growth. Illinois’ housing market can vary greatly by region. While the Chicago metro area continues to experience steady demand, many rural counties offer some of the most affordable housing in the Midwest.

Here’s a snapshot of recent median sale prices from Redfin across some of the state’s key housing markets:

Factors that influence mortgage payments in Illinois

Your monthly mortgage payment includes principal, interest, taxes, and insurance (PITI). Tools like the Rocket Mortgage^® mortgage calculator make it easy to see how different home prices, loan terms, or down payments affect your monthly cost.

Home price and down payment

Illinois home prices vary widely between the Chicago metro and rural counties. Buyers who put at least 20% down on a typical Illinois house (assuming a 6.5% interest rate) can expect to pay around $1,530 for their monthly mortgage.

Smaller down payments usually trigger PMI, increasing the total monthly cost by over $150.

Mortgage rate

Your Illinois mortgage rate is influenced by:

• Credit score and credit history
• Debt-to-income ratio (DTI)
• Loan type
• Down payment amount
• Home type and location
• Current market rates

Even a small change in rate can significantly affect affordability.

Loan term

Your loan term also affects your mortgage payment. The 30-year fixed mortgage is most commonly chosen by home buyers. The 15-year fixed mortgage has higher monthly payments but lower total interest costs.

Property taxes and insurance

Illinois consistently ranks among the states with the highest property tax rates, with an average effective rate of about 2.07%, depending on the county.

Homeowners insurance costs can vary depending on where you live in the state on home age, location, and local weather risks such as tornado exposure. In Illinois, you can expect to pay $299 on average.

How do mortgage payments in Illinois compare to others in the region?

Mortgage rates do not vary much across states, but average monthly mortgage payments do, influenced heavily by regional home prices and property taxes.

Here’s how Illinois compares with neighboring states:

Illinois sits near the middle of the Midwest in terms of overall affordability, with higher payments than Indiana and Iowa, but lower than Missouri and Wisconsin.

Counties with the highest mortgage payments in Illinois

Based on Q1 2025 median sale prices from the National Association of REALTORS^®, these counties have some of the highest monthly mortgage payments in the state:

Counties with the lowest mortgage payments in Illinois

More affordable counties in Illinois are typically located in rural or small-city regions throughout the central and southern parts of the state. Here are the lowest estimated monthly mortgage payments:

How to calculate your mortgage payment

Lenders calculate your mortgage payment using:

• Loan amount
• Interest rate
• Loan term

Home buyers can use a mortgage calculator to compare loan types and estimate their total monthly costs, including taxes, insurance, and PMI.

Illinois-specific mortgage resources

Illinois offers a variety of statewide and local support programs for homebuyers:

• Illinois Housing Development Authority (IHDA): Provides down payment assistance, affordable mortgage programs, and grants for eligible buyers.
• Illinois Hardest Hit Fund Program: Provides mortgage assistance to home owners who experience a 15% income reduction due to a qualifying hardship and meet certain criteria.

Average mortgage payment in Illinois FAQ

Where can I find the lowest mortgage payment in Illinois?

The lowest mortgage payments in Illinois are typically found in Alexander County, where the average mortgage payment is $410.

Which county has the highest mortgage payment in Illinois?

DuPage County has the highest estimated monthly mortgage payment in Illinois, with an average mortgage payment of $2,490

How much do you need to make to afford a home in Illinois?

Using the “28/36” guideline, a typical household should spend no more than 28% of gross monthly income on housing. With an average mortgage payment of $1,618, an Illinois household might need to earn around $5,800 per month (roughly $70,000 annually), depending on down payment, loan type, taxes, and insurance.

The bottom line: Multiple factors shape your mortgage payment in Illinois

Illinois’ diverse housing market offers a wide range of affordability across its urban, suburban, and rural regions. While mortgage payments in Chicago-area counties tend to be higher, homebuyers can find significantly lower prices and monthly payments in many parts of central and southern Illinois.

Whether you’re a first-time buyer or an experienced homeowner, get prequalified for a loan with Rocket Mortgage to understand your buying power and begin the process with confidence.

*Methodology: Average monthly mortgage payment in a region, calculated based on average home purchase price for a fixed 30-year loan and a 52-week average interest rate of 6.68% from Freddie Mac as of August 2025.

This article is for informational purposes only and is not intended to provide financial, investment, or tax advice. You should consult a qualified financial or tax professional before making decisions regarding your retirement funds or mortgage.

Rocket Mortgage is a VA-approved lender, not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency.

Rocket Mortgage is not acting on behalf of FHA or HUD.

The 3% down payment option is only available on certain conventional loan products and is not available in all states. Additional terms and conditions may apply.