Median Home PriceBETTER
$314,516.51
Median Rent
$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
$455,489.79
Median RentBETTER
$1,736.14/mo
Price-to-Rent Ratio
21.9
Property Tax RateBETTER
0.62%
Price Change (1Y)
-3.4%
Break-Even YearsTIE
N/A
10-Year Wealth Difference
−$276,367
Key Differences
Home Prices
Chicago's median home price of $314,516.51 is lower than Phoenix's $455,489.79 by 31%.
Monthly Rent
Renting in Chicago costs $2,113.41/mo compared to $1,736.14/mo in Phoenix—a difference of $377.27/mo.
Buy vs Rent Verdict
Both cities currently favor renting.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.