Median Home Price
$314,516.51
Median Rent
$2,113.41/mo
Price-to-Rent Ratio
12.4
Property Tax RateTIE
2.27%
Price Change (1Y)
+2.9%
Price Change (5Y)
+14.4%
Break-Even Years
N/A
10-Year Wealth Difference
$90,658
Median Home PriceBETTER
$154,382.4
Median RentBETTER
$1,168.27/mo
Price-to-Rent RatioBETTER
11.0
Property Tax RateTIE
2.27%
Price Change (1Y)BETTER
+8.9%
Price Change (5Y)BETTER
+44.4%
Break-Even YearsBETTER
3 years
10-Year Wealth DifferenceBETTER
+$50,773
Key Differences
Home Prices
Chicago's median home price of $314,516.51 is higher than Peoria's $154,382.4 by 104%.
Monthly Rent
Renting in Chicago costs $2,113.41/mo compared to $1,168.27/mo in Peoria—a difference of $945.14/mo.
Buy vs Rent Verdict
Chicago favors renting, while Peoria favors buying.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.