Illinois Finance Guide 2026
Population: U.S. Census Bureau Vintage 2025 estimates; median home price: state housing market data (Redfin/Zillow), 2026; state income tax: Tax Foundation, 2026.
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Illinois's population of 12,720,000 places it among the one of the largest metro populations in the country in Illinois, a detail that directly affects local bank competition and housing supply. Illinois's top income tax rate of 5.0% is on the lower end nationally, giving Illinois residents a modest edge over higher-tax states without the tradeoffs of a zero-tax state.
Illinois is genuinely affordable by national standards: a $292,156 median home price means first-time buyers here face a much shorter runway to a down payment than in most major metros. What follows is Illinois-specific: local banks, local tax rules, and local real estate data, not a copy-paste of national advice.