Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Illinois and Vermont. Updated for 2026.
Illinois and Vermont 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 $737/month ($8,844/year) compared to Vermont, based on median home prices with identical loan terms.
Illinois offers meaningfully lower home prices than Vermont, with median prices running 29% less ($110K difference). This gap translates to both a smaller loan and lower monthly payments. First-time buyers priced out of Vermont 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%, Vermont: 1.9%), 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.
Insurance costs favor Vermont at $1,100/year versus $1,900/year in Illinois, a difference of $800 annually. While not the largest cost factor, this adds up to over $8K over a decade of homeownership. Shop multiple carriers in either state — actual premiums depend on your specific property, coverage level, and claims history.
Both states offer down payment assistance for first-time buyers. Illinois's IHDA 1stHomeIllinois provides $7,500 forgivable loan, while Vermont's VHFA MOVE Mortgage offers $5K–$15K 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 and Vermont are broadly similar in housing costs, with only $737/month separating them in total PITI payments. In cases like this, your decision should be driven by lifestyle preferences — job opportunities, climate, proximity to family, and quality of life — rather than pure cost savings. Either state offers a reasonable path to homeownership.