How much house can I afford on $120,000 in Illinois?
About $374,000 with 20% down ($306,000 with an FHA loan), using Illinois's 1.92% property tax rate.
That is $78,270 more than the typical Illinois home ($295,943), so a $120,000 salary can buy a typical home here. The payment of $2,800 covers $2,014 principal and interest, $599 property tax and $187 insurance.
Counties in Illinois you can afford on $120,000
97 of 102 counties have a typical home value at or below $374,000. The 25 priciest of them:
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| McHenry County | $367,683 | +4.7% | 2.36% |
| Cook County | $340,258 | +6.0% | 1.91% |
| Grundy County | $322,819 | +3.6% | 1.99% |
| Monroe County | $322,053 | +2.3% | 1.63% |
| DeKalb County | $294,833 | +5.0% | 2.45% |
| Boone County | $286,262 | +6.4% | 2.18% |
| McLean County | $260,569 | +1.9% | 2.17% |
| Jo Daviess County | $246,045 | +3.4% | 1.72% |
| Piatt County | $242,033 | +3.1% | 1.81% |
| Champaign County | $238,398 | +5.0% | 2.06% |
| Ogle County | $238,006 | +8.4% | 2.06% |
| Woodford County | $235,906 | +8.9% | 2.13% |
| Kankakee County | $227,163 | +6.0% | 2.21% |
| Clinton County | $225,207 | +6.4% | 1.83% |
| Effingham County | $218,457 | +3.5% | 1.49% |
| Winnebago County | $211,111 | +8.9% | 2.39% |
| Menard County | $209,256 | +7.0% | 1.72% |
| Jersey County | $203,810 | +3.9% | 1.76% |
| Sangamon County | $200,144 | +7.5% | 1.99% |
| Calhoun County | $198,789 | +7.3% | 1.39% |
| Madison County | $197,597 | +5.3% | 1.92% |
| La Salle County | $194,863 | +5.4% | 2.11% |
| Tazewell County | $189,622 | +6.5% | 2.11% |
| Putnam County | $189,069 | +3.8% | 1.57% |
| Lee County | $188,606 | +6.6% | 1.97% |
Affordable metro areas
Assumes a 30-year fixed loan at 7.11%, property tax of 1.92% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Other salaries in Illinois
Frequently asked questions
How much house can I afford on $120,000 in Illinois?
About $374,000 with 20% down at 7.11%, keeping the payment (with Illinois's 1.92% property tax and insurance) under $2,800 a month.
Is $120,000 enough to buy a house in Illinois?
Yes: the typical Illinois home is worth $295,943 (Zillow, September 2026) and $120,000 supports about $374,000. 97 of 102 counties are within budget.