Illinois Mortgage Calculator
Calculate your monthly payment in Illinois, with property tax included using the state's effective rate of 2.01%. See your full amortization schedule and analyze your loan structure.
Pick a state to use its property tax rate. With a keyboard, use the arrow keys and press Enter.
Estimated Monthly Payment
Estimates only. Does not include homeowners insurance, mortgage insurance (PMI), or HOA fees. Property tax uses the state's average effective rate and your actual bill may differ.
Yearly Amortization Schedule
| Year | Principal Paid | Interest Paid | Remaining Balance |
|---|---|---|---|
| 1 | $3,577 | $20,695 | $316,423 |
| 2 | $3,816 | $20,455 | $312,607 |
| 3 | $4,072 | $20,200 | $308,535 |
| 4 | $4,345 | $19,927 | $304,191 |
| 5 | $4,636 | $19,636 | $299,555 |
| 6 | $4,946 | $19,325 | $294,609 |
| 7 | $5,277 | $18,994 | $289,332 |
| 8 | $5,631 | $18,641 | $283,701 |
| 9 | $6,008 | $18,264 | $277,694 |
| 10 | $6,410 | $17,861 | $271,284 |
| 11 | $6,839 | $17,432 | $264,444 |
| 12 | $7,297 | $16,974 | $257,147 |
| 13 | $7,786 | $16,485 | $249,361 |
| 14 | $8,308 | $15,964 | $241,053 |
| 15 | $8,864 | $15,407 | $232,189 |
| 16 | $9,458 | $14,814 | $222,732 |
| 17 | $10,091 | $14,180 | $212,641 |
| 18 | $10,767 | $13,505 | $201,874 |
| 19 | $11,488 | $12,784 | $190,386 |
| 20 | $12,257 | $12,014 | $178,129 |
| 21 | $13,078 | $11,193 | $165,051 |
| 22 | $13,954 | $10,317 | $151,097 |
| 23 | $14,888 | $9,383 | $136,208 |
| 24 | $15,886 | $8,386 | $120,323 |
| 25 | $16,949 | $7,322 | $103,373 |
| 26 | $18,085 | $6,187 | $85,289 |
| 27 | $19,296 | $4,976 | $65,993 |
| 28 | $20,588 | $3,683 | $45,405 |
| 29 | $21,967 | $2,305 | $23,438 |
| 30 | $23,438 | $833 | $0 |
Property tax in Illinois: the numbers
Illinois has one of the highest effective property tax rates in the country. At 2.01%, it is 118% above the 0.92% national average, and it ranks 2nd out of 50 when states are ordered from highest rate to lowest.
A median-valued home in Illinois is worth $263,300 and carries a median property tax of $5,298 per year, or roughly $442 per month. By median home value the state ranks 31st out of 50 (1 = highest), and by median annual property tax it ranks 6th.
| Effective property tax rate | 2.01% |
|---|---|
| Median home value | $263,300 |
| Median annual property tax | $5,298 |
| Rank by rate (1 = highest of 50) | 2 |
| Difference vs 0.92% national average | 1.09 points above (118% above) |
What this means for your monthly payment
Two worked examples for Illinois, using the figures above:
Example 1: the median home
$5,298 per year ÷ 12 = about $442 per month in property tax (median home value: $263,300).
Example 2: a $300,000 home
$300,000 × 2.01% ÷ 12 = about $503 per month, or $6,030 per year.
At the 0.92% national average rate, a $300,000 home would have about $2,760 in property tax per year. In Illinois it is about $6,030, which is $3,270 more per year (about $273 more per month).
Compare with similar states
States ranked just above and just below Illinois by effective property tax rate (1 = highest). States with the same rate are ordered by median annual tax.
Ranked just above (higher rate)
- New Jersey — 2.11% (rank 1)
Ranked just below (lower rate)
- Connecticut — 1.81% (rank 3)
- New Hampshire — 1.66% (rank 4)
- Vermont — 1.59% (rank 5)
- New York — 1.55% (rank 6)
- Texas — 1.49% (rank 7)
Illinois property tax FAQ
What is the property tax rate in Illinois?
The effective property tax rate in Illinois is 2.01%. That is 118% above the 0.92% national average, and the state ranks 2nd out of 50 when states are ordered from highest rate to lowest.
How much is property tax on a $300,000 home in Illinois?
At Illinois's effective rate of 2.01%, property tax on a $300,000 home works out to about $6,030 per year, or about $503 per month. At the 0.92% national average, the same home would be about $2,760 per year, so Illinois is about $3,270 more per year.
How much is property tax on the median home in Illinois?
The median home value in Illinois is $263,300, and the median annual property tax is $5,298, which is about $442 per month.
Does the property tax rate vary inside Illinois?
Yes. Property taxes are set locally, so actual bills depend on your county, city, and exemptions. The 2.01% figure is a state-level estimate based on medians, not a rate that applies to every home.
Figures are estimates based on Census data and are not tax or financial advice. Actual bills depend on your local rates, assessed value and exemptions.
Source: U.S. Census Bureau, American Community Survey 2020-2024 5-year estimates, as compiled by PropertyShark and PropertyTaxByState.