Chicago vs Springfield
Side-by-side rent vs buy analysis comparing these two markets
Overall Comparison
Springfield has an edge
Springfield edges ahead based on overall market conditions.
Median Home Price
$314,516.51
Median Rent
$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 Difference
$90,658
Median Home PriceBETTER
$186,232.99
Median RentBETTER
$1,129.31/mo
Price-to-Rent Ratio
13.7
Property Tax RateTIE
2.27%
Price Change (1Y)BETTER
+7.1%
Price Change (5Y)BETTER
+35.5%
Break-Even YearsTIE
N/A
10-Year Wealth DifferenceBETTER
$8,273
Key Differences
Home Prices
Chicago's median home price of $314,516.51 is higher than Springfield's $186,232.99 by 69%.
Monthly Rent
Renting in Chicago costs $2,113.41/mo compared to $1,129.31/mo in Springfield—a difference of $984.1/mo.
Buy vs Rent Verdict
Chicago favors renting, while Springfield favors either option.
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.