Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Illinois and Nevada. Updated for 2026.
Illinois and Nevada 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 $645/month ($7,740/year) compared to Nevada, based on median home prices with identical loan terms.
Illinois offers meaningfully lower home prices than Nevada, with median prices running 36% less ($155K difference). This gap translates to both a smaller loan and lower monthly payments. First-time buyers priced out of Nevada may find Illinois far more accessible, particularly when combined with local down payment assistance programs.
Property taxes are dramatically different: Nevada charges 0.53% while Illinois charges 2.07%, a gap of 1.54 percentage points. On the respective median homes, this means Illinois homeowners pay roughly $5,589 per year in property taxes versus $2,253 in Nevada. 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 Nevada's Home Is Possible DPA offers Up to 5% forgivable grant. 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 $155K less than Nevada on average. That translates to roughly $645 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.