Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Illinois and New Hampshire. 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 New Hampshire. 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.
Buying in Illinois saves you approximately $1,212/month ($14,544/year) compared to New Hampshire, based on median home prices with identical loan terms.
Illinois offers meaningfully lower home prices than New Hampshire, 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 New Hampshire may find Illinois far more accessible, particularly when combined with local down payment assistance programs.
Property tax rates are similar in both states (Illinois: 2.07%, New Hampshire: 2.09%), so taxes shouldn't be the deciding factor in your relocation decision. Instead, focus on differences in home prices, insurance costs, and state-specific programs. Both states collect roughly comparable property tax revenue relative to home values.
Both states offer down payment assistance for first-time buyers. Illinois's IHDA 1stHomeIllinois provides $7,500 forgivable loan, while New Hampshire's NHHFA Home Flex Plus offers Up to $20,000 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 New Hampshire on average. That translates to roughly $1,212 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.