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Home Renting and Buying in Chicago

The third-largest city in the United States and the largest in the Midwest, Chicago is one of the fanciest American cities. Its three million residents live where the Great Lakes meet the mighty Mississippi River, and its growing economy reflects this fact.

Its booming economy, in turn, is reflected in its high cost of living, which is 37.5% higher than the national average. Home prices go a long way in explaining this: The average home value is about $424,700.

That being said, the average rental rate is not particularly high, only $783 inclusive of essential utilities such as heat and hot water.

One of the reasons Chicago is such a sought-after city to live in is its diversity: the city is approximately 37% African-American, 31.8% Caucasian, and 26% Hispanic.If you looking for luxury homes in Chicago visit Harry Maisel, Real Estate Agent.

The south side has the lowest population density; The north side has the highest median income; The West Side has the highest crime rate and the biggest problem with urban decay; And the downtown area is the most popular, the most active part of the city.

The median home value is particularly high, as the median age of households is fifty-five years. Despite the age of residential buildings, property values continue to rise, with the average price of homes increasing by 18% over the previous year.

There are many ways to find an apartment or house to buy or rent here. Newspaper listings, shrinking steadily due to the increase in online listings, are still popular here, even though they can.

 
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