As rents and home prices across the country remain high, Chicago was just ranked on a new list of the “Most Expensive Places to Live” in the US for 2024.
The new list, from US News and World Report, ranked cities across the country based on median gross rent and annual housing costs for mortgage-paying homeowners, editors said.
From there, the editors ranked the 25 cities that “require the most wealth to live comfortably.”
With 10 cities represented, California was the state that appeared most often on the list. The No. 1 spot belonged to Hartford, Conn., with a median home price of $214,546 and median rent of $1,193, the list said.
Los Angeles came in at No. 2, with a median home price of $869,305 and a median rent of $1,944 per month, the report said. New York City landed at No. 5, with a median home price of $834,096 and a median rent of $1,852 per month.
While Chicago did land on the list, it was towards the end of the list of 25, at No. 23. According to US NewsThe median home price in Chicago is $347,200, with a median rent of $1,395 per month.
Recently, four Chicago suburbs were ranked on a list of “safest and richest“places to live in the US
The full report on “Most Expensive Places to Live” from US News and World Report are here.