Chicago, Illinois

📊 Chicago Market Analysis

Buying a home in Chicago comes with costs that never appear in the listing price. Closing costs run 3.0% of the purchase price ($9,600), annual property taxes are 1.90%, and maintenance averages 1% per year. For someone staying less than 3 years, these unrecoverable costs add up to approximately $35,520 per year — before you even account for selling fees of 6%. Despite these costs, Chicago's favorable price-to-rent ratio of 12.7 means buying still wins long-term. The calculator below lets you see exactly when buying overtakes renting for your situation.