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retrovaporizer t1_jbzesnj wrote

Reply to comment by hiricinee in [OC] Ratio of Median Home Listing Price (Feb 2023) to Median Family Income (2022 Estimate) For 392 US Metropolitan Statistical Areas by thatdude333

While true, housing costs in IL are still massively cheaper than the coasts even when factoring that in. Chicago is a huge bargain, and even with taxes is nowhere near PNW, CA, NY, or even Florida prices while still offering high incomes. Hell, there are podunk Midwestern college towns with housing costs that aren't all that different than Chicago

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hiricinee t1_jbzf92p wrote

Agreed but the catch is the return on investment is much lower. If your property value means nothing to you then affordability is everything, but would you rather be paying 1k in mortgage plus 800 in local taxes, or 1.3k in mortgage plus 500 in local taxes?

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retrovaporizer t1_jbzh518 wrote

I paid 2k in property taxes last year in Chicago and housing around me is mostly under 200k. Hardly breaking the bank. And I'm off a train line 15 minutes from downtown. Name another American city where that's possible .I'll take the affordability lol

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hiricinee t1_jbzkaqv wrote

I pay about 7k a year, the schools are halfway decent but otherwise don't really have anything to show for it.

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