Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Illinois and Indiana. Updated for 2026.
Metric
Illinois
Indiana
Median Home Price
$270K
$240K
Property Tax Rate
2.07%
0.84%
Avg Closing Costs
$5K
$3K
Closing Cost %
2.0%
1.1%
Transfer Tax
0.1%
None
Homeowners Insurance
$1,900/yr
$1,700/yr
First-Time Buyer Program
IHDA 1stHomeIllinois
$7,500 forgivable loan
IHCDA Next Home
Up to 6% DPA
Verdict
Indiana wins 6 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $240K and lower overall costs, Indiana offers meaningful savings compared to Illinois. Both states offer first-time buyer programs — explore the state pages for full details.