Median Home PriceBETTER
$314,516.51
Median RentTIE
$2,113.41/mo
Price-to-Rent RatioBETTER
12.4
Property Tax RateTIE
2.27%
Price Change (1Y)
+2.9%
Price Change (5Y)
+14.4%
Break-Even YearsTIE
N/A
10-Year Wealth DifferenceBETTER
$90,658
Median Home Price
$361,064.29
Median RentTIE
$2,121.37/mo
Price-to-Rent Ratio
14.2
Property Tax RateTIE
2.27%
Price Change (1Y)BETTER
+3.1%
Price Change (5Y)BETTER
+15.6%
Break-Even YearsTIE
N/A
10-Year Wealth Difference
$150,704
Key Differences
Home Prices
Chicago's median home price of $314,516.51 is lower than Joliet's $361,064.29 by 13%.
Monthly Rent
Renting in Chicago costs $2,113.41/mo compared to $2,121.37/mo in Joliet—a difference of $7.96/mo.
Buy vs Rent Verdict
Both cities currently favor renting.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.