Chicago is the Midwest's largest city and a global financial, cultural, and transportation hub. Cook County's high property tax rate — among the highest in the nation for a major metro — significantly increases the true monthly cost of homeownership relative to the purchase price.
Recommended for incomes above $100k/yr (28% DTI rule)
Chicago housing market
The 2.11% property tax rate reflects the county-level effective rate for Chicago and is used to calculate your monthly tax escrow above. This rate may differ from the statewide Illinois average — county-level data produces more accurate monthly payment estimates for Chicago buyers. Many Chicago properties also carry HOA fees — the area average is approximately $400/month, which is not included in the calculator above.
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