Chicago, IL home prices
Typical home $355,650 · +5.0% in a year · income needed $113,900
The Chicago, IL metro area ranks 214 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +5.0% in a year and +27.9% over five years. With 20% down at 7.11%, the typical home costs about $2,657 a month including 1.91% property tax (Cook County rate).
Mortgage on the typical Chicago home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $71,130 | $284,520 | $1,914 | $0 | $743 | $2,657 | $113,900 |
| 10% down | $35,565 | $320,085 | $2,153 | $133 | $743 | $3,030 | $129,900 |
| 5% down | $17,782 | $337,867 | $2,273 | $141 | $743 | $3,157 | $135,300 |
| 3.5% down (FHA) | $12,448 | $349,208 | $2,349 | $157 | $743 | $3,250 | $139,300 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.91% 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.
Counties in the Chicago area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Cook County, IL | $340,258 | +6.0% | 1.91% |
| DuPage County, IL | $437,880 | +4.3% | 2.05% |
| Lake County, IL | $398,052 | +6.0% | 2.58% |
| Will County, IL | $376,285 | +2.8% | 2.24% |
| Kane County, IL | $383,834 | +5.0% | 2.26% |
| Lake County, IN | $250,943 | +2.0% | 0.92% |
| McHenry County, IL | $367,683 | +4.7% | 2.36% |
| Porter County, IN | $330,010 | +2.3% | 0.83% |
| Kenosha County, WI | $333,954 | +6.7% | 1.57% |
| Kendall County, IL | $395,398 | +3.2% | 2.37% |
| DeKalb County, IL | $294,833 | +5.0% | 2.45% |
| Grundy County, IL | $322,819 | +3.6% | 1.99% |
| Jasper County, IN | $300,557 | +3.3% | 0.46% |
| Newton County, IN | $221,831 | +3.1% | 0.77% |
What can you afford in Illinois on your salary? · Illinois home prices · Salaries in Illinois
Frequently asked questions
How much is a house in Chicago?
The typical home in the Chicago, IL metro area is worth $355,650 (Zillow, September 2026).
What salary do you need to buy a house in Chicago?
About $113,900 a year for the typical home with 20% down at 7.11%.