Illinois variant. This is a Illinois-specific version of the Homeowners Insurance Estimator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Homeowners Insurance Estimator.
Homeowners insurance in Illinois typically runs about 0.30%–0.40% of home value per year. On the $270,000 median home, that's roughly $945 annually.
What Illinois homeowners insurance covers
Premiums fund dwelling coverage, personal property, liability, and loss of use. Illinois's $270,000 median home value sets the baseline dwelling coverage and therefore the premium.
Local risk - wildfire, hurricane, hail, flood - drives big swings. Flood is separately insured. Use the estimator to refine the Illinois average for your build cost and deductible.
About taxes and housing in Illinois
Illinois applies a single flat income tax rate to all earners, as its constitution prohibits a graduated income tax.
Illinois has among the highest effective property tax rates in the nation, which is a major factor in overall housing costs.
Illinois's economy is anchored by Chicago as a center for finance, transportation, and manufacturing, with agriculture dominant downstate.
Worked example: $270,000 home
$270,000 × 0.35% ≈ $945/year ($79/month). Replacement-cost coverage, not market value, ultimately sets the premium - land value is excluded.
Quick reference
- State income tax: Flat 4.95%
- State sales tax: 6.25% (plus 2.59% avg local)
- Median home value: $270,000
- Median household income: $78,433
- Effective property tax rate: 2.08%
- Avg auto insurance: $1,652/yr
Frequently Asked Questions
How much is homeowners insurance in Illinois?
Roughly $945/year on the $270,000 median home, varying with local catastrophe risk.
Does homeowners insurance cover floods in Illinois?
No - flood coverage is purchased separately through the NFIP or private insurers.