Cook County, Illinois: What It Costs to Buy a Home
The median home in Cook County is worth $305,200, property taxes on it run about $6,053 a year (1.98%), the FHA loan limit is $541,287, and closing on it means about $459 in transfer tax plus $2,790 in title insurance. Each number below opens its own page with the source and a calculator.
| Median home value | $305,200 | Title insurance at this price → |
|---|---|---|
| Property taxes (median paid) | $6,053 a year, 1.98% of value | Property tax page → |
| FHA loan limit (1 unit) | $541,287 | Loan limits page → |
| Conforming loan limit (1 unit) | $832,750 | Loan limits page → |
| Transfer tax on the median home | $459 (incl. Cook County transfer tax) | Illinois transfer tax page → |
| Title insurance on the median home | $2,215 owner's + $575 lender's | Title insurance page → |
| Recording fees (deed + mortgage) | $214 | Recording fees page → |
| Closing costs from these items | $3,463 | Closing costs page → |
| Down payment help | 3 local programs found | First-time buyer page → |
| Area median income (HUD, family of 4) | $121,500; low-income limit $97,200 | Income limits page → |
Frequently asked questions
How much do homes cost in Cook County?
The median owner-occupied home in Cook County is valued at $305,200, per U.S. Census Bureau, ACS 2019-2023 five-year estimates, table B25077 (median value of owner-occupied housing units).
How much are property taxes in Cook County?
The median Cook County homeowner pays $6,053 a year in real estate taxes, about 1.98% of the median home value ($6,346 for homes with a mortgage), per the Census Bureau's American Community Survey.
What is the FHA loan limit in Cook County?
$541,287 for a one-unit home in 2026 (the national floor), per HUD; the conforming limit for Fannie Mae and Freddie Mac loans is $832,750, per FHFA.
What does it cost to close on a home in Cook County?
On the $305,200 median home: transfer tax $459, title insurance $2,790 for both policies, recording fees about $214, about $3,463 for those items before lender fees, prepaid taxes and insurance.
What is the area median income in Cook County?
HUD's FY 2026 median family income for Cook County (Chicago-Joliet-Naperville, IL HUD Metro FMR Area) is $121,500. A family of four counts as low income below $97,200 under HUD's 80% tier (adjusted for local housing costs, so it can sit above 80% of the median), which is the line many first-time buyer assistance programs use.
Nearby Illinois counties
- Clay County $94,300
- Clinton County $180,500
- Coles County $121,900
- Crawford County $113,700
- Cumberland County $117,700
- De Witt County $124,200
Sources
- U.S. Census Bureau, ACS 2019-2023 five-year estimates, table B25077 (median value of owner-occupied housing units)
- U.S. Census Bureau, ACS 2019-2023 five-year estimates, table B25103 (median real estate taxes paid)
- HUD, FHA forward mortgage loan limits for calendar year 2026 (CHUMS county limits file, Mortgagee Letter 2025-23)
- FHFA, conforming loan limits for mortgages acquired in calendar year 2026, by county
Figures are computed from the documents above and rounded to the dollar. All sources.
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General information, not financial, tax or legal advice. Figures are medians and schedule computations, not quotes.
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