Mortgage on a $100K house in Illinois
$748 a month with 20% down — $538 principal and interest plus $160 property tax and $50 insurance.
Illinois's typical property tax is 1.92% of the home's value a year (U.S. average 0.9%), which adds $160 a month on a $100K home. The typical home in Illinois is worth $295,943, so $100K is 66% below the typical price.
$100K home in Illinois: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $20,000 | $80,000 | $538 | $0 | $210 | $748 | $32,100 |
| 10% down | $10,000 | $90,000 | $605 | $38 | $210 | $853 | $36,600 |
| 5% down | $5,000 | $95,000 | $639 | $40 | $210 | $889 | $38,100 |
| 3.5% down (FHA) | $3,500 | $98,189 | $661 | $44 | $210 | $915 | $39,200 |
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.
Where in Illinois does $100K buy a typical home?
In these counties the typical home value is within 15% of $100K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Hardin County | $100,652 | 0.96% | $669 |
| Cass County | $98,765 | 2.02% | $756 |
| McDonough County | $101,292 | 2.13% | $765 |
| Vermilion County | $101,321 | 1.81% | $739 |
| Lawrence County | $101,917 | 1.18% | $687 |
| Pulaski County | $96,562 | 1.02% | $673 |
| Scott County | $94,533 | 1.5% | $713 |
| Mason County | $105,470 | 2.09% | $762 |
| Clay County | $106,056 | 1.43% | $707 |
| Saline County | $92,182 | 1.69% | $729 |
| Gallatin County | $89,782 | 1.57% | $719 |
| Edgar County | $110,427 | 1.45% | $709 |
6 of 102 Illinois counties tracked by Zillow have a typical home value at or below $100K. See all Illinois home prices.
Other prices in Illinois
Frequently asked questions
What is the mortgage on a $100K house in Illinois?
About $748 a month with 20% down at 7.11%: $538 principal and interest, $160 property tax and $50 insurance.
How much do I need to make to buy a $100K house in Illinois?
About $32,100 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $100K house in Illinois?
At Illinois's typical effective rate of 1.92%, about $1,921 a year. Rates vary by county and city — see the county pages.