Chicago, United States
Property prices · 2024 · Americas
Property price trend in Chicago (2024–2026)
Property comparison — cities in United States (2024)
| City | Centre /sqm | Outside /sqm | 1-Bed Rent | vs Chicago |
|---|---|---|---|---|
| Chicago | USD 5,800 | USD 3,500 | USD 1,800 | — |
| New York | USD 18,500 | USD 10,500 | USD 3,500 | +219% |
| San Francisco | USD 16,800 | USD 9,800 | USD 3,200 | +189.7% |
| Seattle | USD 11,500 | USD 7,200 | USD 2,800 | +98.3% |
| Los Angeles | USD 11,500 | USD 7,500 | USD 2,800 | +98.3% |
| Boston | USD 10,200 | USD 6,400 | USD 2,600 | +75.9% |
| Washington DC | USD 9,500 | USD 5,900 | USD 2,400 | +63.8% |
| Miami | USD 8,500 | USD 5,500 | USD 2,500 | +46.6% |
| Austin | USD 7,200 | USD 4,500 | USD 1,900 | +24.1% |
Other Americas cities (2024)
Frequently asked questions
How much does property cost in Chicago in 2024?
In Chicago, the average price per sqm in the city centre is USD 5,800, and USD 3,500 outside the centre (2024 data). Prices have risen 7% since 2024.
How much is rent in Chicago in 2024?
A 1-bedroom apartment in Chicago rents for approximately USD 1,800 per month in 2024. A 3-bedroom apartment costs around USD 3,200/month.
Is it better to buy or rent in Chicago?
Buying and renting are roughly comparable in Chicago. The price-to-rent ratio is 18.0x — it would take approximately 18.0 years of rental payments to equal the property purchase price. Current mortgage rates are approximately 6.80%.
What are mortgage rates in United States in 2024?
The average mortgage rate in United States is approximately 6.80% as of 2024. With a price-to-rent ratio of 18.0x, buyers should carefully weigh mortgage costs against rental savings.
What is the price per sqm in Chicago?
The average property price per square metre in Chicago city centre is USD 5,800 in 2024. Outside the centre, expect to pay around USD 3,500/sqm.