Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Illinois and Montana. Updated for 2026.
Illinois and Montana are evenly matched across major housing cost categories. Your decision may come down to other factors like job market, climate, or lifestyle preferences. Use the calculators below to model your specific scenario.
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI.
Buying in Illinois saves you approximately $787/month ($9,444/year) compared to Montana, based on median home prices with identical loan terms.
Illinois offers meaningfully lower home prices than Montana, with median prices running 37% less ($160K difference). This gap translates to both a smaller loan and lower monthly payments. First-time buyers priced out of Montana may find Illinois far more accessible, particularly when combined with local down payment assistance programs.
Property taxes are dramatically different: Montana charges 0.74% while Illinois charges 2.07%, a gap of 1.33 percentage points. On the respective median homes, this means Illinois homeowners pay roughly $5,589 per year in property taxes versus $3,182 in Montana. Over 30 years of homeownership, this difference alone can add up to six figures. Retirees on fixed incomes should weigh this heavily.
Both states offer down payment assistance for first-time buyers. Illinois's IHDA 1stHomeIllinois provides $7,500 forgivable loan, while Montana's MBOH Regular Bond Program offers Up to $15,000 DPA. 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: Illinois homes cost $160K less than Montana on average. That translates to roughly $787 less per month in total housing costs if you choose Illinois. For most buyers, this price gap is the single biggest factor — it affects your loan size, monthly payment, and how quickly you build equity.