Median Home PriceBETTER
$314,516.51
Median RentBETTER
$2,113.41/mo
Price-to-Rent RatioBETTER
12.4
Property Tax Rate
2.27%
Price Change (1Y)BETTER
+2.9%
Break-Even YearsTIE
N/A
10-Year Wealth DifferenceBETTER
−$90,658
Median Home Price
$859,957.76
Median Rent
$2,809.35/mo
Price-to-Rent Ratio
25.5
Property Tax RateBETTER
0.73%
Price Change (1Y)
-1.8%
Break-Even YearsTIE
N/A
10-Year Wealth Difference
−$597,809
Key Differences
Home Prices
Chicago's median home price of $314,516.51 is lower than Los Angeles's $859,957.76 by 63%.
Monthly Rent
Renting in Chicago costs $2,113.41/mo compared to $2,809.35/mo in Los Angeles—a difference of $695.94/mo.
Buy vs Rent Verdict
Both cities currently favor renting.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.