Chicago vs Philadelphia
Side-by-side rent vs buy analysis comparing these two markets
Overall Comparison
Philadelphia has an edge
Philadelphia shows stronger fundamentals for buying with a 3-year break-even point.
Median Home Price
$465,000
Median Rent
$2,200/mo
Price-to-Rent Ratio
17.6
Property Tax Rate
2.27%
Price Change (1Y)
+2.8%
Price Change (5Y)
+13.0%
Break-Even Years
7 years
10-Year Wealth Difference
+$20,000
Median Home PriceBETTER
$310,000
Median RentBETTER
$1,900/mo
Price-to-Rent RatioBETTER
13.6
Property Tax RateBETTER
1.54%
Price Change (1Y)BETTER
+3.9%
Price Change (5Y)BETTER
+22.0%
Break-Even YearsBETTER
3 years
10-Year Wealth DifferenceBETTER
+$30,000
Key Differences
Home Prices
Chicago's median home price of $465,000 is higher than Philadelphia's $310,000 by 50%.
Monthly Rent
Renting in Chicago costs $2,200/mo compared to $1,900/mo in Philadelphia—a difference of $300/mo.
Buy vs Rent Verdict
Chicago favors either option, while Philadelphia favors buying.
Break-Even Timeline
Buying breaks even in 7 years in Chicago vs 3 years in Philadelphia.
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.