Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Illinois and Missouri. Updated for 2026.
Metric
Illinois
Missouri
Median Home Price
$270K
$235K
Property Tax Rate
2.07%
0.97%
Avg Closing Costs
$5K
$2K
Closing Cost %
2.0%
0.9%
Transfer Tax
0.1%
None
Homeowners Insurance
$1,900/yr
$2,200/yr
First-Time Buyer Program
IHDA 1stHomeIllinois
$7,500 forgivable loan
MHDC First Place Loan
Up to 4% cash assistance
Verdict
Missouri wins 5 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $235K and lower overall costs, Missouri offers meaningful savings compared to Illinois. Both states offer first-time buyer programs — explore the state pages for full details.