Rent vs Buy in Chicago, IL (2025)
Under 15 = buy, 15–20 = neutral, over 20 = rent
Median Rent
$1,800
/month
Median Home Price
$350K
Price-to-Rent Ratio
16x
Breakeven Years
9 yrs
Mortgage Rate
6.65%
Property Tax Rate
2.1%
Neutral
It's a toss-up in Chicago
At 16x price-to-rent ratio, the decision depends heavily on your timeline, down payment, and personal situation.
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Chicago, IL — Rent vs Buy Calculator
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