Austin vs Chicago
Side-by-side rent vs buy analysis comparing these two markets
Overall Comparison
Both cities are evenly matched
Both cities offer similar value for rent vs buy decisions.
Median Home Price
$475,000
Median RentBETTER
$1,800/mo
Price-to-Rent Ratio
22.0
Property Tax RateBETTER
1.80%
Price Change (1Y)BETTER
+4.3%
Price Change (5Y)BETTER
+20.0%
Break-Even Years
8 years
10-Year Wealth DifferenceBETTER
+$25,000
Median Home PriceBETTER
$465,000
Median Rent
$2,200/mo
Price-to-Rent RatioBETTER
17.6
Property Tax Rate
2.27%
Price Change (1Y)
+2.8%
Price Change (5Y)
+13.0%
Break-Even YearsBETTER
7 years
10-Year Wealth Difference
+$20,000
Key Differences
Home Prices
Austin's median home price of $475,000 is higher than Chicago's $465,000 by 2%.
Monthly Rent
Renting in Austin costs $1,800/mo compared to $2,200/mo in Chicago—a difference of $400/mo.
Buy vs Rent Verdict
Both cities currently favor either option.
Break-Even Timeline
Buying breaks even in 8 years in Austin vs 7 years in Chicago.
Run Your Own Numbers
This comparison uses median values. Your income, savings, and goals matter. Use our Buy vs Rent calculator to get a personalized analysis.