A new report reveals that prospective homebuyers in Illinois are more easily able to afford a new home than homebuyers in any other U.S. state are.
Visual Capitalist ranks Illinois as the easiest state in the nation for typical homebuyers to purchase a new home. According to the report, Illinois households have the largest income surplus among the states where median incomes are high enough to cover the cost of a median-priced home.
The numbers tell an encouraging story. In 2026, the median household income in Illinois is approximately $83,390, and a household needs an estimated $63,388 in annual income to afford a median-priced home. This leaves Illinois homeowners with roughly $20,000 in additional annual income after accounting for the estimated cost of their mortgage.
Illinois offers a significant advantage compared with some of the nation’s most expensive housing markets. In California, for example, the median home price is approximately $930,000, with buyers needing an estimated $174,050 in annual income to afford a home. By comparison, Illinois’ statewide median home price was $321,550 during the first half of 2026.
While housing costs have increased in Illinois, like elsewhere, over the past few years, the state’s affordability advantage remains strong. Even in the Chicagoland area, where the median home price reached $385,000 in the first half of 2026, homes remain considerably more affordable than many major housing markets nationwide.
For families, young professionals and anyone looking to put down roots through home ownership, Illinois offers the increasingly rare opportunity to purchase a home without stretching their household budget to its limit.
