Chicago vs Peoria
Side-by-side rent vs buy analysis comparing these two markets
Overall Comparison
Peoria has an edge
Peoria shows stronger fundamentals for buying with a 3-year break-even point.
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.
Run Your Own Numbers
This comparison uses median values. Your income, savings, and goals matter. Use our Buy vs Rent calculator to get a personalized analysis.