HomeMarketCap.comHousing is the part of a move you can price before you arrive. The median tracked ZIP in Chicago has a typical home value of $340,167 and typical rent of $1,883 per month. Across tracked ZIPs the typical home value runs from $125,693 in 60621 to $684,050 in 60614 — a factor of 5.4. The metro income-needed indicator changed 3.25% year over year.
Key stats
- The median tracked ZIP in Chicago has a typical home value of $340,167 and typical rent of $1,883 per month.
- Across tracked ZIPs the typical home value runs from $125,693 in 60621 to $684,050 in 60614 — a factor of 5.4.
- The metro income-needed indicator changed 3.25% year over year.
- The median tracked ZIP has a home-value-to-annual-rent ratio of 15.1.
- 18 of 56 tracked ZIPs (32%) show the current cooling flag.
- Tracked ZIP markets
- 56
- Median ZIP home value
- $340,167
- Median ZIP rent
- $1,883
- housing cost spread
- Across tracked ZIPs the typical home value runs from $125,693 in 60621 to $684,050 in 60614 — a factor of 5.4.
- income needed change
- The metro income-needed indicator changed 3.25% year over year.
- metro price to rent
- The median tracked ZIP has a home-value-to-annual-rent ratio of 15.1.
What housing costs in Chicago today
The median tracked ZIP in Chicago has a typical home value of $340,167 and typical rent of $1,883 per month. Across tracked ZIPs the typical home value runs from $125,693 in 60621 to $684,050 in 60614 — a factor of 5.4. A mover picks one of those ZIPs rather than their average, so the metro median is the wrong number to plan against.
The home-value-to-annual-rent ratio is 15.1, which is the measure that decides whether renting first is the cheaper way to arrive.
What income the move needs
The metro income-needed indicator stands at $96,162.
It changed 3.25% year over year, so the salary that worked for a mover last year is not the salary that works now.
This page measures housing only. Groceries, transport, taxes, and insurance are not included and can move the total in either direction.
Sources and method
- HomeMarketCap.com data sources: ZIP and metro housing-market datasets
- HomeMarketCap.com methodology: calculation and missing-data rules