Illinois · Chicago-Naperville-Elgin, IL-IN metro area

Buying a home in Aurora, Illinois

In Aurora, the median value of owner-occupied homes is $274,800, Kane County's effective property tax rate is 2.26%, a purchase mortgage carried a median $6,468 in total loan costs in 2025, and median gross rent is $1,596 a month.

Data as of : Census ACS 2020-2024, Census Vintage 2024, HMDA 2025, HUD FY 2027. Sources

Aurora home costs, fact by fact

About Aurora

Buyers in Aurora will find that 66.4% of homes are owner-occupied, with a median home value of $274,800, the median value of owner-occupied homes as estimated by owners, not a sale price. Aurora is part of the Chicago-Naperville-Elgin, IL-IN metro area, ranked 3rd in the country.

Reading the Aurora figures

Aurora's median home value of $274,800 falls under Illinois at $294,400 and far below Naperville ($540,200), but it tops Joliet ($265,800) and Elgin ($273,000). Rent is $1,596 a month, higher than Chicago ($1,440) and Elgin ($1,361).

Kane County is where a buyer should look hardest. The effective tax rate reaches 2.26%, and against a county estimate of $327,000 that yields a typical annual bill of $7,382. The Chicago-area HUD rating of $2,011 for a smaller unit sits far over what Aurora tenants pay.

Lenders reported 5,069 loans in 2025, with a charge of $6,468 in the middle. Charges clustered from $5,707 to $8,702, a fairly tight band, and 66.4% of households here own.

Calculate for Illinois

If you buy

Illinois state transfer tax

Real Estate Transfer Tax (35 ILCS 200/31-10): $0.50 per $500 of value or fraction of $500. Change the price: the amount is recalculated instantly.

Price$294,400
State transfer tax$294.50
Share of the price0.1% of the price
Who paysShared by buyer and seller

Default price: the Illinois median value of owner-occupied homes, $294,400 (Census ACS 2025). Rule: Divide the value by $500, round up to the next whole unit, multiply by $0.50. If the deed is subject to a mortgage, the outstanding mortgage balance is left out of the base. Who pays: Per the Cook County Clerk table the seller is liable for the state and county taxes. In Chicago the buyer generally pays the $3.75 city portion and the seller the $1.50 CTA portion. Contracts can allocate differently. Not included: county and city transfer taxes, recording fees, title insurance and lender charges. Illinois transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: Illinois state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

Questions about buying a home in Aurora

How much is property tax in Aurora?

Homeowners in Kane County pay a median $7,382 a year in property tax, 2.26% of the county median home value of $327,000 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Aurora?

Home-purchase mortgages in Kane County carried median total loan costs of $6,468 in 2025; half of the 5,069 loans fell between $5,707 and $8,702 (HMDA). Total loan costs are the lender and settlement-service charges of the Closing Disclosure; transfer taxes and prepaid items come on top.

Is there a transfer tax when you buy a home in Aurora?

Illinois taxes real estate transfers at $0.50 per $500 of value, Cook County adds $0.25 per $500, and the City of Chicago adds $5.25 per $500, for a Chicago total of $6.00 per $500 (1.2% of the price). The seller is named for the state and county taxes.

Is it cheaper to rent or buy in Aurora?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Aurora ($274,800) equals 14.3 years of the median gross rent ($1,596 a month), both from Census ACS 2020-2024.

Run your own numbers: rent vs buy calculator · closing costs calculator.

Illinois rules that apply in Aurora

Other large cities in Illinois

Who licenses each trade in Illinois · All covered cities

Sources

Illinois · All states · Federal guides