Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Chicago area can be challenging. Home prices in Chicago are now at a median cost of $290,679, higher than the Illinois average of $242,002.
The average cost of rent is $1,422/mo in Chicago, primarily driven by the current value of real estate in the Chicago area. While nearly 35.29% of residents own their homes outright in Chicago, 33.62% rent.
Housing affordability isn’t just about home prices, though. The average household income in Chicago is $7,564 per month. Households that rent pay about 18.80% of their income on rent here. Chicago's most expensive areas are in the central regions, while the cheapest areas are in the southern parts of the city.
Nearby Cities
- Cicero, IL: less expensive homes
- Oak Park, IL: higher priced homes
- Berwyn, IL: less expensive homes
- Stickney, IL: less expensive homes
- Forest Park, IL: equally priced homes
- Forest View, IL: less expensive homes
- River Forest, IL: higher priced homes
- Riverside, IL: higher priced homes
- Elmwood Park, IL: equally priced homes
- North Riverside, IL: less expensive homes
Cities with Similar Populations
- Simpsonville, SC: less expensive homes
- Simi Valley, CA: higher priced homes
- Sioux City, IA: less expensive homes
- Sioux Falls, SD: less expensive homes
- Rialto, CA: equally priced homes
- Redondo Beach, CA: higher priced homes
- Redlands, CA: higher priced homes
- Reno, NV: higher priced homes
- Raleigh, NC: equally priced homes
- Roanoke, VA: less expensive homes
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