Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Florida and Illinois. Updated for 2026.
Metric
Florida
Illinois
Median Home Price
$395K
$270K
Property Tax Rate
0.86%
2.07%
Avg Closing Costs
$7K
$5K
Closing Cost %
1.8%
2.0%
Transfer Tax
0.7%
0.1%
Homeowners Insurance
$4,200/yr
$1,900/yr
First-Time Buyer Program
Florida Hometown Heroes
Up to 5% as 0% deferred loan
IHDA 1stHomeIllinois
$7,500 forgivable loan
Verdict
Illinois wins 4 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $270K and lower overall costs, Illinois offers meaningful savings compared to Florida. Both states offer first-time buyer programs — explore the state pages for full details.