Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Delaware and Illinois. Updated for 2026.
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 Delaware. Both states offer first-time buyer programs — explore the state pages for full details.
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI.
The monthly payment difference is $166/month — that’s $1,992/year or $60K over the life of a 30-year loan. Buying in Illinois is the more affordable option based on median home prices with identical loan terms.
Based on the 28% debt-to-income rule — your monthly housing payment should not exceed 28% of gross monthly income.
To afford the median home in Delaware, you need a household income of approximately $104K/year. In Illinois, you need $97K/year — less by $7K/year. The $7K difference is meaningful but manageable for dual-income households.
Illinois offers meaningfully lower home prices than Delaware, with median prices running 24% less ($85K difference). This gap translates to both a smaller loan and lower monthly payments. First-time buyers priced out of Delaware may find Illinois far more accessible, particularly when combined with local down payment assistance programs.
Property taxes are dramatically different: Delaware charges 0.56% while Illinois charges 2.07%, a gap of 1.51 percentage points. On the respective median homes, this means Illinois homeowners pay roughly $5,589 per year in property taxes versus $1,988 in Delaware. Over 30 years of homeownership, this difference alone can add up to six figures. Retirees on fixed incomes should weigh this heavily.
Insurance costs favor Delaware at $1,300/year versus $1,900/year in Illinois, a difference of $600 annually. While not the largest cost factor, this adds up to over $6K over a decade of homeownership. Shop multiple carriers in either state — actual premiums depend on your specific property, coverage level, and claims history.
Closing costs are a one-time but significant expense. Delaware averages $12K in closing costs (3.3% of purchase price) while Illinois averages $5K (2%). Much of Delaware's higher costs come from its 4% transfer tax, which adds $14K to the median home purchase. Budget for these upfront costs — they affect how much cash you need on hand at closing.
Both states offer down payment assistance for first-time buyers. Delaware's DSHA Homeownership Loan provides Up to 5% Preferred Plus, while Illinois's IHDA 1stHomeIllinois offers $7,500 forgivable loan. These programs can significantly reduce your upfront costs and make homeownership accessible even if you haven't saved a full 20% down payment. Check eligibility requirements on each state's housing finance agency website — income limits and purchase price caps apply.
The bottom line: property taxes are the defining difference here. Illinois's 2.07% rate versus Delaware's 0.56% means Delaware homeowners save approximately $3,601 every year on taxes alone. Over a 30-year mortgage, that difference compounds into tens of thousands of dollars — making it the most important cost factor in this comparison.