Data: 2026-Q2 · BLS · HUD · KFF
Income Band
Home Readiness Score
Can Afford Up To
est. purchase price
Typical Price
city median
Affordability Gap
can afford vs median
Monthly Affordable
P&I comfortable limit
Showing ·
income band ·
Rate: 6.47% (Freddie Mac Jun 18 2026) · Median: $429,300 (NAR May 2026)
"The best time to buy a home was yesterday. The next best time is today."
Can You Afford a Home in Chicago, IL?
Based on your income band and local market data. Figures update when you change city or income above.
You Can Afford
Typical Price
Affordability Gap
You're near your comfort zone. A slightly smaller or less competitive area could improve your flexibility.
Monthly Payment Estimate
principal & interest you can manage
Typical payment: /mo
Rate: 6.47% · 30-yr fixed
Rate: 6.47% · 30-yr fixed
National Context
National median: $429,300 (NAR May 2026)
65% of households priced out (NAHB 2026)
First-time buyers: only 21% of market
65% of households priced out (NAHB 2026)
First-time buyers: only 21% of market
What Kind of Home Is Realistic?
Chicago market ranges at the $80K–100K income band. Figures vary by neighborhood and type.
Most Realistic
Condo
$200K–$300K
Lowest entry point. HOA fees apply. Good for first-time buyers building equity.
Possible
Townhouse
$320K–$420K
Middle ground. Often includes small outdoor space. Good balance of space and cost.
Challenging
Single Family
$400K–$550K
Requires top of income band or dual income. More space, more upkeep costs.
Not Realistic
Luxury / 4BR+
$700K+
Requires $130K+ income or significant assets. Outside range for most $80–100K earners.
What You Might Have to Trade
Buying in Chicago at $80–100K means accepting some tradeoffs. Here's what most buyers face.
🚌 HIGH
Longer Commute
+28–45 mins each way
🏙️ MODERATE
Less Urban Access
20–30 miles from downtown
📐 MODERATE
Smaller Home
~15–20% smaller than ideal
⏳ HIGH
Delayed Other Goals
2–4 years impact on savings
💳 MODERATE
Less Financial Flexibility
Higher fixed-cost ratio
Time Cost of Buying
Avg commute
31 min each way
Time to save down pmt
3.6 years at current pace
Total life hours
1,140+ in commute per year
That's 47+ full days of your life per year in transit.
Emotional Impact
Stability 85/100
Financial Freedom 55/100
Stress Level 48/100
Life Satisfaction 78/100
True Monthly Cost
Beyond principal & interest — Chicago estimates
Property taxes $420/mo
Homeowner ins. $140/mo
HOA (est.) $180/mo
Maintenance $250/mo
Utilities $160/mo
Extra monthly $1,150/mo
Total all-in est: $3,210/mo beyond P&I estimate
Homeownership Stress
Financial stress index for Chicago buyers at your income band
48/100
Moderate Stress
Lower is better. Based on payment-to-income ratio, debt load, and market pressure.
Down Payment Progress
Saved: $12,400 of
$57,000 goal
Timeline 3.6 years
Based on 15% down on median price, current savings rate.
Explore & Compare All 34 Cities
Homeownership scores at the $80–100K income band across every major US market.
| City | Score | Home Price | Monthly All-In | Afford Gap | Down Pmt Timeline |
|---|---|---|---|---|---|
| Detroit, MI | 82 | $210,000 | $1,280 | +$140,000 | 1.8 yrs |
| St. Louis, MO | 82 | $215,000 | $1,310 | +$135,000 | 1.9 yrs |
| Kansas City, MO | 80 | $230,000 | $1,400 | +$120,000 | 2.0 yrs |
| Pittsburgh, PA | 78 | $245,000 | $1,490 | +$105,000 | 2.2 yrs |
| Indianapolis, IN | 76 | $255,000 | $1,560 | +$95,000 | 2.3 yrs |
| Columbus, OH | 72 | $275,000 | $1,680 | +$70,000 | 2.6 yrs |
| San Antonio, TX | 70 | $290,000 | $1,760 | +$55,000 | 2.7 yrs |
| Minneapolis, MN | 68 | $340,000 | $2,050 | $0 | 3.0 yrs |
| Atlanta, GA | 65 | $355,000 | $2,150 | -$5,000 | 3.2 yrs |
| Jacksonville, FL | 64 | $335,000 | $2,040 | -$10,000 | 3.5 yrs |
| Baltimore, MD | 63 | $310,000 | $1,890 | +$15,000 | 3.0 yrs |
| Chicago, IL YOUR CITY | 62 | $365,000 | $2,230 | -$15,000 | 3.6 yrs |
| Orlando, FL | 60 | $370,000 | $2,230 | -$15,000 | 3.7 yrs |
| Houston, TX | 60 | $330,000 | $2,010 | -$5,000 | 3.4 yrs |
| Tampa, FL | 59 | $380,000 | $2,290 | -$25,000 | 3.9 yrs |
| Charlotte, NC | 58 | $375,000 | $2,230 | -$25,000 | 3.8 yrs |
| Austin, TX | 58 | $380,000 | $2,280 | -$30,000 | 3.9 yrs |
| Las Vegas, NV | 56 | $405,000 | $2,410 | -$55,000 | 4.5 yrs |
| Dallas, TX | 55 | $385,000 | $2,320 | -$35,000 | 4.2 yrs |
| Salt Lake City, UT | 55 | $420,000 | $2,490 | -$70,000 | 4.8 yrs |
| Raleigh, NC | 54 | $390,000 | $2,320 | -$40,000 | 4.3 yrs |
| Nashville, TN | 52 | $389,000 | $2,310 | -$39,000 | 4.4 yrs |
| Portland, OR | 52 | $410,000 | $2,430 | -$60,000 | 4.6 yrs |
| Phoenix, AZ | 47 | $420,000 | $2,480 | -$70,000 | 4.9 yrs |
| Denver, CO | 45 | $430,000 | $2,520 | -$80,000 | 5.1 yrs |
| Miami, FL | 38 | $520,000 | $3,100 | -$170,000 | 7.2 yrs |
| Washington, DC | 38 | $580,000 | $3,400 | -$215,000 | 7.5 yrs |
| Boston, MA | 32 | $680,000 | $3,990 | -$315,000 | 9.2 yrs |
| San Diego, CA | 30 | $820,000 | $4,820 | -$475,000 | 11+ yrs |
| New York, NY | 28 | $785,000 | $4,600 | -$435,000 | 11+ yrs |
| Seattle, WA | 27 | $785,000 | $4,610 | -$435,000 | 11+ yrs |
| Los Angeles, CA | 25 | $820,000 | $4,800 | -$475,000 | 12+ yrs |
| San Jose, CA | 20 | $1,100,000 | $6,500 | -$735,000 | 16+ yrs |
| San Francisco, CA | 18 | $1,200,000 | $7,100 | -$850,000 | 18+ yrs |
Data: NAR, Freddie Mac, HUD FY2026. Scores at $80–100K income band. All-in includes P&I, taxes, insurance, HOA, maintenance estimates.
Where You Can Afford More Near Chicago
Same Chicago job, more home for your money. Drive time from the Loop.
🏘️
Naperville, IL
28 min · +18% more home
🏘️
Aurora, IL
35 min · +23% more home
🏘️
Joliet, IL
40 min · +26% more home
🏘️
Elgin, IL
42 min · +28% more home
🏘️
Tinley Park, IL
50 min · +30% more home
🏘️
Schaumburg, IL
31 min · +20% more home
Premium = how much more home you get vs. central Chicago for the same budget. Drive time from the Loop during off-peak hours.
What Improves Your Score the Most?
Ranked by point impact at the $80–100K band in Chicago. Click any action to learn more.
+14
Increase income by $10K
Raises affordable price by ~$35K and improves DTI ratio significantly.
High Impact
Medium Effort
+12
Add $10K more down payment
Reduces loan size, lowers monthly P&I, improves LTV ratio.
High Impact
High Effort
+9
Pay off $5K in existing debt
Reduces DTI ratio — critical for mortgage approval.
Medium Impact
Medium Effort
+8
Save $8K additional
Improves down payment progress and shows financial stability to lenders.
Medium Impact
High Effort
+7
Target homes under $350K
Moves you from gap territory to positive affordability in this market.
Medium Impact
Low Effort
People Like You in Chicago at $80–100K
Aggregate data from homebuyers and renters at this income level in the Chicago metro area.
72%
Still renting
at this income level
35
Avg purchase age
for first-time Chicago buyers
20–25
Miles from downtown
most buy in this range
#1
Affordability + commute
top buyer priorities
Your Life Could Change
See how moving from Chicago to Nashville changes your homeownership picture — same income, dramatically different outcome.
Chicago, IL Current
Home Score 62/100
Median Price $380K
Monthly All-In $2,230
Down Pmt Timeline 3.6 yrs
Stress Level Moderate
Nashville, TN Compare
Home Score 52/100
Median Price $389K
Monthly All-In $2,060
Down Pmt Timeline 2.1 yrs
Stress Level Moderate
18%
More home for budget
-$170/mo
Lower monthly payment
1.5 yrs
Own sooner
Tools & Resources
Calculators, guides, and checklists to move your homeownership goal forward.
🔢 →
Calculator
Mortgage Calculator
P&I, rate, term. See your real monthly number.
📋 →
Checklist
First-Time Buyer Checklist
32-step guide from credit check to closing day.
📖 →
Guide
Down Payment Strategies
7 proven ways to reach your down payment faster.
🛠️ →
Tool
True Cost Estimator
Beyond the mortgage — property tax, HOA, maintenance.
Updated with June 2026 data