How Long to Save for a Home in Chicago, IL
Median home price, average rent, and a personalized savings timeline for Chicago — updated 2026-Q1.
Median Home Price
$330,000
Average Rent
$1,800/mo
Median Income
$68,000/yr
5yr Price Growth
+12%
Calculate for Chicago
Invest this % of your rent ($1,800/mo)
Down payment
Down Payment Scenarios in Chicago
| Scenario | Down Payment | With Bricks | Savings Acct |
|---|---|---|---|
| 3.5% FHA | $11,550 | 4.5 years | 4.9 years |
| 10% Down | $33,000 | 10.1 years | 12 years |
| 20% Down | $66,000 | 15.6 years | 20 years |
Start saving for a home in Chicago
Bricks helps renters invest toward homeownership. Join the waitlist.
Buying a Home in Chicago, Illinois
Chicago is one of the Midwest's largest metro areas with a population of 2,700,000. The median home price of $330,000 is near the national average.
With average rent at $1,800/month, a renter in Chicago investing 10% of their rent ($180/month) into diversified REITs could accumulate a 20% down payment of $66,000 in approximately 15.6 years. The same monthly contribution in a high-yield savings account would take about 20 years.
Home prices in Chicago have grown 12% over the past five years, roughly in line with national trends. For renters, this means the down payment target continues to move — making it even more important to invest rather than just save, so your money grows alongside home prices.