Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Illinois and Oregon. Updated for 2026.
Oregon wins 3 of 6 cost categories, making it the more affordable state for homebuyers overall. However, Illinois has a lower total cost when combining home price, closing costs, and insurance. 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 $1,138/month ($13,656/year) compared to Oregon, based on median home prices with identical loan terms.
Illinois offers meaningfully lower home prices than Oregon, with median prices running 44% less ($210K difference). This gap translates to both a smaller loan and lower monthly payments. First-time buyers priced out of Oregon may find Illinois far more accessible, particularly when combined with local down payment assistance programs.
Property taxes are dramatically different: Oregon charges 0.93% while Illinois charges 2.07%, a gap of 1.14 percentage points. On the respective median homes, this means Illinois homeowners pay roughly $5,589 per year in property taxes versus $4,464 in Oregon. 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 Oregon's OHCS Oregon Bond offers Cash Advantage up to $15K. 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 $210K less than Oregon on average. That translates to roughly $1,138 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.