Chicago
Illinois · Ranked #294 of 373 metros
52Moderate
💡
Housing in Chicago costs 3.63× the median income, below the national average of 4.5×. The median home price is $317K and median rent is $1,390/month. Chicago ranks #294 of 373 metros for affordability.
Median Home Price
🏠$317K
Need $95K income
Median Rent
🔑$1,390
Need $58K income
Housing Shortage
📉75,000
units needed
Building Permits
🔨14,000
annual
Median Income
💰$87K
Pop: 9,509,934
Rent Burden
⚠️32.5%
of renters paying >30%
Price Change (YoY)
📈+3.5%
Homeownership
🏡66.0%
Rent Burden
vs. National Average
Key Facts vs. National Average
| Metric | Chicago | National |
|---|---|---|
| Price-to-Income Ratio | 3.63x | 6.1x |
| Rent Burden | 32.5% | 31.5% |
| Homeownership Rate | 66.0% | 65.5% |
| YoY Price Change | +3.5% | +3.5% |
| YoY Rent Change | +2.8% | +2.8% |
| Mortgage Denial Rate | 14.2% | 13.5% |
| Eviction Rate | 4.8% | 3.6% |
House Price Index (2000–2025)
FHFA All-Transactions HPI
Since 2019: +52.8%Since 2000: +119.5%
HUD Fair Market Rents (FY2026)
Section 8 voucher payment standards
Studio$1,480/mo
1 Bedroom$1,581/mo
2 Bedroom$1,781/mo
3 Bedroom$2,294/mo
4 Bedroom$2,653/mo
Zillow Market Data
Home Value (ZHVI)
$339K
1yr: +4.0%5yr: +32.6%
Rent (ZORI)
$2,132/mo
1yr: +5.3%5yr: +39.0%
Note: ZORI reflects current listing prices and may differ from the Census ACS median rent shown above, which captures what renters actually pay including below-market and subsidized units.
Redfin Market Activity
Median Sale Price
$360K
Active Inventory
15,892
Days on Market
69
Sold Above List
32.2%
Price Drops
13.9%