- Median rent
- $1,322/mo
- Median home
- $280,700
- Price-to-rent
- 17.7×
- Modeled ownership
- $2,229/mo
- Monthly gap
- $907/mo
- Break-even (model)
- 26 yrs
- Signal
- Rent leans ahead
Illinois vs Indiana Rent vs Buy
Illinois has the lower price-to-rent ratio (17.7× vs 18.4×).
By Sammy S. · Founder · AuthorUpdated for 2026
Lower price-to-rent ratio
Illinois
Illinois has the lower price-to-rent ratio (17.7× vs 18.4×).
Ratio gap: 0.7×
Rent vs buy scoreboard
- Median rent
- $1,104/mo
- Median home
- $243,500
- Price-to-rent
- 18.4×
- Modeled ownership
- $1,708/mo
- Monthly gap
- $604/mo
- Break-even (model)
- 12 yrs
- Signal
- Rent leans ahead
Smaller monthly gap vs rent on this benchmark.
What Illinois vs Indiana means for renters and buyers
Rent benchmark
ACS median gross rent is $1,322/mo in Illinois and $1,104/mo in Indiana. Monthly rent gap difference: $302/mo on modeled ownership minus rent.
Buy benchmark
Ownership model uses 6.66% financing, 1% maintenance, and 5% opportunity return on cash-to-close at each state's ACS median home value.
Related tools
Rent vs buy calculatorPersonalize rent, price, and break-evenMortgage affordability calculatorPrice from income and debtsHomeownership cost by stateACS owner costs and buyer estimatesProperty tax by stateEffective rates and annual billsCost of living by stateIndexes and equivalent salariesProperty tax calculatorHome value + rate estimate
Compare a different pair
Compare any two states
Price-to-rent ratios, median rent, modeled ownership, and break-even context.
Illinois vs Indiana FAQs
Illinois is higher ($1,322/mo vs $1,104/mo).
Indiana is higher (18.4× vs 17.7×). Higher ratios often lean toward renting on this metric.
Illinois is lower (17.7× vs 18.4×).
Illinois: ~26 years. Indiana: ~12 years under the same appreciation, rent-growth, and opportunity-return assumptions.
Illinois shows the larger buy-over-rent monthly gap ($907/mo vs $604/mo) before equity.
Indiana shows the smaller gap ($604/mo vs $907/mo).
Illinois $280,700 vs Indiana $243,500 (ACS median owner-occupied).
No. Both use the same Freddie Mac PMMS 6.66% 30-year fixed assumption (as of 2026-07-30) so the comparison isolates home prices, rents, property tax, and insurance.
Neither does — HOA defaults to $0 in both columns. Local dues can flip a close comparison.
Use this duel for housing-structure context, then compare wages, income taxes, insurance risk, and how long you will stay before deciding.
By Sammy S. · Founder · AuthorUpdated for 2026